Markets soared Friday on news that, for the first time in months, the economy added more jobs in May than any other time since 1939, according to CNBC. The last time more than one million jobs were added in a month was 1983, at 1.1 million. The sharp gains were attributed mostly to furloughed and laid off workers returning as businesses reopen, as the majority of these gains were in industries hard hit by the pandemic. The biggest rise was in leisure and hospitality, making up almost half of the increase, followed by construction and then "other services." The results are a marked contrast to economists' predictions that we'd see the economy lose 8.3 million jobs.

As of 1:30 p.m., the Dow Jones Industrial Average was up 989 points, the S&P 500 was up 93 points, and the Nasdaq was up 225 points.