US STOCKS-Jobs report takes Dow, S&P to fresh record highs
* May payrolls report shows pace of hiring remains solid
* Hertz Global falls, to restate financial results
* CBOE Volatility index at lowest level since Feb '07
* Indexes up: Dow 0.5 pct, S&P 0.5 pct, Nasdaq 0.6 pct (Updates to close)
By Angela Moon
NEW YORK, June 6 (Reuters) - U.S. stocks rose on Friday, with the Dow and the S&P 500 closing at records, after the May payrolls report provided the latest confirmation of improving economic conditions.
The CBOE Volatility index VIX, Wall Street's so-called fear gauge, ended down 8.1 percent at 10.73, its lowest level since February 2007.
The VIX, which tends to rise when volatility increases or the market drops, has been on the decline for months and is well below its historical average of 20, which some see as a sign that investors are ignoring concerns that could derail the rally.
The day's gains were broad and led by cyclical sectors, which outperform in times of economic expansion. Industrial shares jumped 1 percent while energy shares rose 0.8 percent. The only S&P 500 sector that fell was healthcare, a defensive group, down 0.1 percent. Continuación...