Mumbai, March 6 -- The Nasdaq surged 267.57 points (1.5%) to 18,552.73, the S&P 500 shot up 64.48 points (1.1%) to 5,842.63 and the Dow jumped 485.60 points (1.1%) to 43,006.59.

Earlier in the day, some negative sentiment was generated in reaction to a report from payroll processor ADP showing much weaker than expected private sector job growth in the month of February. ADP said private sector employment rose by 77,000 jobs in February after climbing by an upwardly revised 186,000 jobs in January.

Private sector job growth slowed to the lowest level since last July, with trade and transportation, health care and education, and information showing job losses, ADP said. "Policy uncertainty and a slowdown in consumer spending might have le...