Hiring picked up in July as the Labor Department reported...

Hiring picked up in July as the Labor Department reported employers added 117,000 jobs last month and the unemployment rate dipped to 9.1 percent, an improvement from the past two months. Economists had expected a gain of 85,000 jobs.

"Wow! An incredible surprise considering the horrific macro points we've received the past few months," said Todd Schoenberger, managing director of LandColt Trading. "Personal spending, manufacturing, GDP�all of this kept traders awake at night."