World stocks rallied, U.S. oil jumped nearly 5 percent and the euro surged on Friday on news U.S. employers increased hiring in July by the most in five months and on renewed optimism that Europe was closer to action on its debt crisis.
Investors took a second look at Thursday's statement by European Central Bank President Mario Draghi and concluded that help was on the way, even though it would take more time than many hoped.
The U.S. jobs report showed stronger-than-expected hiring but also a rise in the unemployment rate to 8.3 percent, which keeps alive the hope of further support for the economy from the Federal Reserve.
