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US stocks close higher on February jobs report

iStock/Thinkstock(NEW YORK) -- A stronger-than-expected jobs report pushed Wall Street in the green on Friday.

The Dow Jones Industrial Average gained 44.79 (+0.21 percent) to finish at 20,902.98.

The Nasdaq jumped 22.92 (+0.39 percent) to close at 5,861.73, while the S&P 500 finished at 2,372.60, up 7.73 (+0.33 percent) from its open.

Crude oil prices sunk nearly 2 percent; over $48 a barrel.

Jobs Report:  The U.S. added 235,000 jobs last month, according to the Department of Labor, much higher than the expected 190,000 jobs. The unemployment rate also dropped slightly from 4.8 percent in January to 4.7 percent in February. Investors believe the strong jobs report is a good indication the Federal Reserve will raise interest rates this month.

Winners and Losers:  Ulta Beauty beat quarterly profit and revenue forecasts and shares closed nearly 5 percent higher.

Shares in Southwest Airlines sunk 1 percent after the airline slashed its unit revenue outlook.

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