Stocks rallied on the heels of a soaring Treasury market which surged after the

Labor Department

reported

nonfarm payrolls

rose 275,000 in February, while the unemployment rate rose to 4.4% from 4.3%.

Consensus estimates were for nonfarm payrolls to rise 245,000 and for the unemployment rate to remain at 4.3%.

The 30-year Treasury bond was up 2 2/32 to 95 20/32, yielding 5.55%.

The

Dow Jones Industrial Average

was up 149 to 9617. The

S&P 500

was up 21 to 1268. The

Nasdaq Composite Index

was up 42 to 2335. The

Russell 2000

was up 4 to 398.

TheStreet.com Internet Sector

index was up 14 to 537.

TheStreet.com E-Commerce Index

was up 3 to 97.

Most Up at Open -- NYSE

Telebras (TBH) , up 2 15/16 to 70

.

Most Up at Open -- Nasdaq

Level One Communications (LEVL) - Get Report, up 19 7/8 to 47

:

Intel

(INTC) - Get Report

has agreed to buy Level One for $2.2 billion in stock.

TheStreet.com

wrote about the deal

yesterday.

Most Down at Open -- NYSE

Newmont Mining (NEM) - Get Report, down 3/8 to 18 1/16

.

Most Down at Open -- Nasdaq

IDX Systems (IDXC) , down 10 3/8 to 15 5/8

: The company warned it expects to post a loss of 22 cents to 28 cents a share in the first quarter, short of the current

First Call

22-analyst consensus estimate of 35 cents. The company said first-quarter sales are expected to be in the range of $60 million to $65 million. The company blamed an unexpected deferral of purchasing decisions by its customers for the sales shortfall.