Stocks on Wall Street rose on Friday after the November jobs report blew past expectations.

The S&P 500 and Nasdaq finished the day up about 1%.

While the Dow closed up more than a percent, with investors appearing to celebrate as the unemployment rate ticked back down to its lowest level in nearly half a century.

(SOUNDBITE) (English) CROSSMARK GLOBAL INVESTMENTS, CHIEF MARKET STRATEGIST, VICTORIA FERNANDEZ, SAYING:

"Recession was something people really were anticipating this year and it didn't come to fruition. And I think people are coming to grips with perhaps we're not going to see that in the near term so we're probably going to see more risk on appetite for investors and the market in general. That's what the numbers we saw today are supportive of."

Also fueling stocks were comments by Top White House economist Larry Kudlow, who said a U.S.-China trade deal is close and that talks are in an "intense" phase.

Back on Wall Street, energy and financials were among the top performers in the S&P.

While Ulta was also sitting pretty after the makeup retailer reported better than expected earnings.

Shares climbed more than 11%, making it the best performer in the S&P.