NEW YORK (CNNMoney) -- Shares of General Motors and Ford surged on Friday following strong data on the U.S. job market.
On Friday morning, the U.S. government announced that the economy added 243,000 jobs in January, far outpacing analyst estimates. The news sparked a broad rally in U.S. stocks, with the Dow closing at its highest level in nearly four years.
U.S. automakers were big beneficiaries: GM (GM, Fortune 500) shares closed up 7.7% and Ford (F, Fortune 500) ended up 4.3%.
Alex Potter, a senior research analyst at Piper Jaffray, called the unemployment data a "huge" indicator for domestic car consumption.
"There's been a lot of optimism permeating the entire industry and just looking for an opportunity to break out," he said.
Ford, GM and Chrysler all gained market share last year for the first time since 1988, according to estimates from sales tracker Autodata. ![]()
| Index | Last | Change | % Change |
|---|---|---|---|
| Dow | 12,454.83 | -74.92 | -0.60% |
| Nasdaq | 2,837.53 | -1.85 | -0.07% |
| S&P 500 | 1,317.82 | -2.86 | -0.22% |
| Treasuries | 1.74 | -0.01 | -0.80% |
| Company | Price | Change | % Change |
|---|---|---|---|
| Bank of America Corp... | 7.15 | 0.01 | 0.14% |
| Sprint Nextel Corp | 2.62 | 0.09 | 3.56% |
| Cisco Systems Inc | 16.33 | -0.06 | -0.37% |
| Chesapeake Energy Co... | 15.81 | 0.23 | 1.48% |
| Ford Motor Co | 10.60 | 0.01 | 0.09% |
| Overnight Avg Rate | Latest | Change | Last Week |
|---|---|---|---|
| 30 yr fixed | 3.80% | 3.80% | |
| 15 yr fixed | 3.09% | 3.11% | |
| 5/1 ARM | 2.65% | 2.69% | |
| 30 yr refi | 3.77% | 3.86% | |
| 15 yr refi | 3.09% | 3.21% |
Today's featured rates:

FedEx's Fred Smith did 2 tours of duty in Vietnam as a Marine. Meet 10 Fortune 500 executives who served in the U.S. military. More
Group of farmers in southern Kansas pool their land to more than double their money from an oil company for their mineral rights. Play

Here are some hot tips if you're going out car-shopping this weekend. More

This 150-square-foot home can be shipped anywhere and then assembled like Ikea furniture. More

Many Class of 2012 grads find themselves without work. But those who landed jobs say internships are key. More