* Banks rise after stress test results

* Job data boosts optimism on economy; energy shares up

* Dow up 2 pct; S&P 500 up 2.4 pct; Nasdaq up 1.3 pct

* For up-to-the-minute market news click [STXNEWS/US] (Adds volume figures in last two paragraphs)

By Ellis Mnyandu

NEW YORK, May 8 (Reuters) - U.S. stocks rose on Friday, and the Nasdaq capped its longest stretch of weekly gains in a decade as stress test results and reassuring jobs data fueled hopes the worst is over for banks and the economy.

Financial shares led a broad run-up again, a day after regulators said most U.S. banks were sound. The KBW Bank index surged 12.1 percent.

Shares of No. 2 U.S. bank JPMorgan Chase Inc (JPM.N: Quote, Profile, Research) climbed 10.5 percent to $38.94, making the stock the Dow's top gainer. A 3.4 percent gain in oil prices above $58 a barrel bolstered energy companies' shares, led by Chevron Corp (CVX.N: Quote, Profile, Research), which rose 3.5 percent to $70.38.

The release of the stress test results "has given people a little bit of confidence that the government can help to solve this part of the financial crisis," said Richard Sparks, senior equities analyst and options trader at Schaeffer's Investment Research in Cincinnati.