After The Bell: Stocks Surge After Solid Jobs Report

(CBS) -- Stocks closed sharply higher Friday, recovering all post-Brexit losses and more, after a surprisingly strong June jobs report put traders in a buying mood.

The S&P 500 gained 32, the NASDAQ added 80 and the Dow Jones Industrial Average closed up over 250 points, settling to 18,146.

"Today's trade is all about an economy that was stronger than people thought it would be as reflected in the jobs report. That has been the biggest cloud over the market in terms of its ability to really kind of breakout," says Chuck Carlson, CEO of Horizon Investment Services. "Wall Street was kind of thirsting for some evidence the economy wasn't running off the rails and the jobs report we got provided just that."

He also noted that the three main engines of stock market performance are inflation, interest rates and corporate profits.