Investors added to the week’s strong gains in the stock market after finding some positives in a surprisingly weak jobs report. Stock indexes posted a modest advance in light trading Friday after the Labor Department said the nation’s unemployment rate topped 10 percent in October for the first time since 1983, but also that the pace of job losses slowed. The rise in joblessness, while not welcome news for the economy, reassured some investors that the Federal Reserve will have to hold interest rates low for some time.
The Dow Jones industrial average rose 17.46, or 0.2 percent, to 10,023.42.
The Standard & Poor’s 500 index rose 2.67, or 0.3 percent, to 1,069.30.
The Nasdaq composite index rose 7.12, or 0.3 percent, to 2,112.44.
For the week:
The Dow is up 310.69, or 3.2 percent
The S&P; is up 33.11, or 3.2 percent
The Nasdaq is up 67.33, or 3.3 percent
For the year:
The Dow is up 1,247.03, or 14.2 percent.
The S&P; is up 166.05, or 18.4 percent.
The Nasdaq is up 535.41, or 34 percent.
Business
<img src=" http://www.joplinglobeonline.com/images/zope/friday.gif" border=0> How the major stock indexes fared on Friday
- Business
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Stocks fall on Wall Street as Spanish bank teeters
Another flare-up in Europe’s debt crisis knocked U.S. markets lower Friday. This time, it was more trouble at a major Spanish bank.
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5 Spanish banks downgraded; Bankia seeks 19 billion euros in aid
The outlook for the Spanish banking system worsened sharply Friday when Standard & Poor’s slashed the credit ratings of five banks and said the country is headed into a double-dip recession.
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Europe debt crisis dragging world economies down
The Eurozone debt crisis is intensifying a global slowdown, with new signs that even powerhouse Germany may be faltering, adding to worries about China and other major pillars of economic growth.
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US declines to label China a currency manipulator
The Obama administration may be getting tougher with China on trade, but its approach in dealing with Beijing on the thorny currency issue remains patient diplomacy.
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Facebook ads less than lucrative for many businesses
As the public joined the frenzy around Facebook Inc.’s Wall Street debut, well-connected institutional investors were hearing a more sobering message: The social network’s main business, advertising, was sputtering.
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New Orleans Times-Picayune cuts paper publication to 3 days a week
The New Orleans Times-Picayune will move to a three-day-a-week print schedule in the fall, becoming the largest metropolitan newspaper to cut back paper publication in what has increasingly become an electronic world of information.
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Ad-skipping device at heart of legal battle between Fox, Dish
Fox Broadcasting Co. has sued Dish Network, becoming the first television network to fire a legal salvo over the satellite company’s controversial new ad-skipping device called AutoHop.
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Syngenta pays $105 million to settle US litigation
Swiss chemicals maker Syngenta says it is offering $105 million to settle a U.S. lawsuit over one of its herbicides entering water supplies.
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Some electric vehicle owners find savings on insurance
Early adopters of electric vehicles have to dig deep into their wallets to make the purchase, but some are reaping unexpected savings on their insurance bills.
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’Personal concierge’ businesses take on to-do lists of the time-starved
Andrea Maida got the panicked phone call early one morning.
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