The Dow Jones industrial average surged higher Friday -- breaking the psychologically key 14,000 mark -- after the latest jobs report showed that the U.S. economy added 157,000 jobs in January and that hiring for the past two years was better than previously thought.

In Friday’s morning trading, the blue-chip barometer rose 140 points to 14,001, briefly crossing the 14,000 mark for the first time since Oct. 17, 2007, and coming within less than 200 points of its record high.

The Dow Jones industrial average, a price-weighted index, tracks the share prices of 30 large U.S. companies that trade on the New York Stock Exchange or the Nasdaq.