Stocks surge | Will November live up to reputation? | Google buying Fitbit

Stocks surged on much better-than-expected jobs data on Friday.

VIEW IN BROWSER | SUBSCRIBE FRI, NOV 01, 2019 EVENING BRIEF AS OF FRI, NOV 01, 2019 • 04:03 ET DJIA 27347.09 +1.11% +300.86 S&P 500 3066.91 +0.97% +29.35 NASDAQ 8386.40 +1.13% +94.04   Most Active DOW NAME LAST CHG %CHG AAPL 255.82 +7.06 +2.84% MSFT 143.72 +0.35 +0.24% CSCO 47.03 -0.48 -1.01% S&P 500 NAME LAST CHG %CHG GE 10.38 +0.40 +4.01% AMD 34.89 +0.96 +2.83% F 8.89 +0.30 +3.49% NASDAQ NAME LAST CHG %CHG AMD 34.89 +0.96 +2.83% AAPL 255.82 +7.06 +2.84% SIRI 6.82 +0.10 +1.49% EDITOR'S NOTE The S&P 500 and Nasdaq Composite rallied to fresh record highs Friday on the back of much-stronger-than-expected jobs data.   The U.S. economy added 128,000 jobs in October, easily surpassing a Dow Jones estimate of 75,000, CNBC's Jeff Cox reports. The data managed to top expectations even with a decline of 42,000 jobs stemming from the strike by workers at General Motors. Jobs growth data for September and August were also revised sharply higher.  Jobs growth in leisure and hospitality led the way last month with an increase of 61,000, CNBC's Tom Franck reports. Health care and social assistance employers also added 34,200 jobs. Those solid gains helped offset a loss of 36,000 jobs in manufacturing.   The strong numbers came after the Federal Reserve cut rates earlier this week for a third time in 2019. The central bank raised the bar for another rate reduction, but also said inflation would have to increase "significantly" before thinking about raising rates. In other words, the Fed is on hold for the foreseeable future.   The market also has seasonal factors in its favor heading into next week. November has been the third-best month for the S&P 500 since World War II, CNBC's Patti Domm reports.  On average, the broad index gains 1.3% in November.     Navigating the world of financial products such as credit cards can be confusing. That's why we launched CNBC Select where we simplify the process by crunching the numbers, reviewing dozens of offers and providing you with all the information you need in one place. Click here to learn more. Fred Imbert | CNBC Markets Reporter @foimbert TOP NEWS  Dow jumps, S&P 500 hits fresh record after strong October jobs data October job creation comes in at 128,000, easily topping estimates even with GM auto strike Here's where the jobs are — in one chart US manufacturing contracts for a third straight month Google to acquire Fitbit, valuing the smartwatch maker at about $2.1 billion China says it's reached a consensus in principle with the US during this week's trade talks Elizabeth Warren says she would not raise middle-class taxes for $52 trillion health-care plan Dozens of Boeing jets grounded due to 'pickle fork' cracks Apple's long-awaited TV service launches — here's everything you need to know about it Erasing student debt would be a small stimulus but would create a 'moral hazard,' Moody's says     TOP VIDEO 'Succession's Brian Cox on streaming wars and media dynasties   CNBC PRO Netflix could lose 10 million subscribers next year if it doesn't cut prices, Needham analyst says   SPECIAL REPORTS Goldman Sachs says antitrust to heat up in 2020, pressure Facebook, Google shares for 'years' Slow growth fears are fading away as better-than-expected economic numbers roll in   Unsubscribe Manage Newsletters Terms of Service Join the CNBC Panel Digital Products Feedback Privacy Policy   © 2019 CNBC LLC. All rights reserved. A property of NBCUniversal. 900 Sylvan Avenue, Englewood Cliffs, NJ 07632 Data is a real-time snapshot *Data is delayed at least 15 minutes. Global Business and Financial News, Stock Quotes and Market Data and Analysis. Data also provided by THOMSON REUTERS