Markets Soar As Unemployment Rate Drops

The nation's unemployment rate fell to a four year low of 7.5% as more jobs than expected were created in April. The markets surged with the Dow jumping 159 points to 14,988 while Nasdaq leaped 42 points to 3383.

On the upside

InvenSense (NYSE: INVN) reported higher fourth quarter earnings and revenue that beat analyst expectations.

Flagstar Bank will pay $110 million to MBIA (NYSE: MBI) to settle a mortgage lawsuit.

Blucora (Nasdaq: BCOR) reported sharply higher first quarter earnings that more than doubled as revenue soared.

On the downside

Central European Media Enterprises (Nasdaq: CETV) priced its public offering of more than 54.4 million common shares at the discounted price of $2.75 per share.

Vocera Communications (NYSE: VCRA) widened first quarter losses more than expected as revenue fell.

Arena Pharmaceuticals (Nasdaq: ARNA) narrowed first quarter losses but the company is still waiting for the Drug Enforcement Agency to classify its obesity treatment Belviq.

In the broad market, advancing issues outpaced decliners by a margin of more than 3 to 1 on both the NYSE and on Nasdaq. The broader S&P 500 index climbed 14 points to 1597.

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