US STOCKS-Wall St soars after jobs growth rebounds
* Nonfarm payrolls up by 223,000, just below the 224,000 expected
* Unemployment rate falls to lowest since May 2008
* S&P 500, Dow on track for best day since March
* Microsoft jumps on news it's not pursuing Salesforce
* Indexes up: Dow 1.4 pct, S&P 1.3 pct, Nasdaq 1.2 pct (Updates to early afternoon, changes comment)
By Tanya Agrawal
May 8 (Reuters) - Wall Street soared in early afternoon trading on Friday after strong jobs data for April indicated a pickup in the economy, which could prompt the Federal Reserve to raise interest rates only towards the end of the year.
U.S. job growth rebounded last month and the unemployment rate dropped to a near seven-year low, suggesting underlying strength in the economy at the start of the second quarter after growth hit a soft patch in the first.
"Right now the market's been pricing for December and the Fed's been pushing more of a narrative that we think suggests September, so we're more likely to see the Fed converge here to the market than the other way around," said Aaron Kohli, interest rate strategist at BNP Paribas in New York. Continuación...