NEW YORK, Nov 3 (Reuters) - Global stock indexes experienced a significant surge, while the U.S. dollar plummeted to a six-week low and benchmark 10-year U.S. Treasury yields hit five-week lows on Friday. This came after data revealed that U.S. job growth had slowed more than anticipated in October.

The deceleration in job growth has intensified speculation that the Federal Reserve might halt its interest rate hikes. The decline in manufacturing payrolls, caused in part by strikes from the United Auto Workers union against Detroit's "Big Three" automakers, contributed to the slowdown. Additionally, the data indicated the smallest annual wage increase in nearly 2-1/2 years, suggesting an easing in labor market conditions.

Brad McMillan, the Chief Investment Officer for Commonwealth Financial Network, commented, "The good news here is that the slowdown will likely keep the Fed on the sidelines going forward."

Investors took cues from the recent decision by the U.S. central bank to maintain interest rates and remarks from Fed Chair Jerome Powell, which signaled a potential end to rate increases. This sentiment was further supported by the Bank of England's decision to leave its rates unchanged.

While central bank officials stressed that additional measures might be necessary to address inflation concerns, benchmark 10-year yields dropped to 4.527%, the lowest since Sept. 29. Meanwhile, two-year note yields fell to 4.847%, the lowest since Sept. 1.

The rally in bonds was fueled by the U.S. Treasury's decision to issue less long-term debt than initially projected. Additionally, data from Thursday suggested that the U.S. economy may finally be cooling down.

In the stock market, the Dow Jones Industrial Average saw a gain of 307.85 points, or 0.91%, closing at 34,146.93. The S&P 500 rose 55.68 points, or 1.29%, to 4,373.46, while the Nasdaq Composite added 225.03 points, or 1.69%, to reach 13,519.22.

Apple Inc. was an exception to the upward trend, with its shares dipping by 0.9% following the company's quarterly results announcement, which included a cautionary outlook for the holiday quarter.

Over in Europe, the pan-European STOXX 600 index rose by 0.17%, and MSCI's gauge of stocks worldwide gained 1.44%.

The U.S. dollar index hit a six-week low as a result of the jobs data. In afternoon trading, the dollar index fell by 1.111%. The euro, on the other hand, surged by 1.07% to $1.0734.

Some currency exchanges also experienced notable changes. The Japanese yen strengthened by 0.72% against the greenback, trading at 149.31 per dollar, while sterling traded at $1.2379, up by 1.46% on the day.

The geopolitical risk premium dissipating in the market caused oil prices to end lower. Brent crude futures settled at $84.89 a barrel, while U.S. crude futures dropped $1.95 to settle at $80.51.

Spot gold, however, saw a 0.4% increase, reaching $1,994.31 an ounce.