Wall Street rallied on Friday following news that employers added 128,000 jobs in August.

The latest result noted that unemployment in the U.S. dropped to 4.7 percent from 4.8 percent in July. In addition, wages increased by 3.9 percent, according to the Labor Department.

The Dow Jones Industrial average rose 83.00 points to close at 11.464.15. Meanwhile the NASDAQ exchange was up 9.41 percent.

The S&P 500 index rose 7.19 points to close at 1,311.01. The Russell 1000 index closed up 3.70 points to end at 711.25 points.

Bonds ended virtually flat, with 10-year treasury notes at 4.73 percent, down 0.13 percent.

Oil prices also fell to $69.19 per barrel, ending the day down $1.07 at the New York Mercantile Exchange.