The Dow Jones industrial average opens 150 points higher after a surprisingly strong report on the job market in July. The report comes a day after the market's worst trading day since 2008.

The government said that the economy added 117,000 new jobs in July, and hiring in May and June were not as bad as reported previously.

Fears that the economy might dip back into recession helped send the Dow Jones industrial average down 513 points on Thursday. Asian markets plunged Friday. European leaders are struggling to contain that region's debt crisis.

The U.S. markets indexes have fallen 10 percent from their spring highs.