After much handwringing and speculation, the Labor Department delivered a measure of salvation to the markets when it announced that more than 244,000 new jobs were created in April, well above the 185,000 jobs most analysts had predicted.

The good news -- it was the most jobs added in a single month in more than five years -- sent all the major indices up a full percentage point after a decidedly languid week of trading ahead of this key economic report.

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