Wall Street surges 1% higher

US stocks seeing one of best days for year on earnings, weekly jobs data.

United States stocks are sharply higher in mid-afternoon trade as investors bet that this week's closely-watched US labour market report will come in better-than-expected.

Stocks were also seen driven by strong company earnings and news weekly jobless claims had come in under forecasts. One drag was microblogging host Twitter, which sunk after a soft earnings update yesterday.

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