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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Obama call for manufacturing revival a tough goal
President Barack Obama is making a strong election-year push for an economic revival “built on American manufacturing.” But he faces an uphill slog, with little consensus even within his own party on how to do it.
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Stocks fall sharply as Greek deal is held up
Stocks are closing their worst day this year after Greece hit a roadblock on its way to a critical bailout.
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Budget deficit drops to $27 billion in January
The budget deficit fell sharply in January compared to a year earlier, as an improving economy lifts income tax revenue.
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Feds slap CA utility for San Onofre ammonia leak
Federal regulators say an ammonia leak that caused an emergency alert at Southern California’s San Onofre nuclear plant was caused by employees who failed to recognize degraded equipment and fix it.
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Chicago officials make plans for potential massive protests of G-8, NATO summits
In Wisconsin, a group of environmentalists plans to bicycle to Chicago’s G-8 and NATO summits to protest an economy that relies too heavily on fossil fuel.
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Obama praises Italian leader’s economic efforts
Eager for Europe to contain its economic troubles, President Barack Obama praised Italian Premier Mario Monti on Thursday for his efforts to lead Italy out of its fiscal quagmire.
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Consortium in South wins federal approval for 2 new nuclear reactors
A consortium of utilities in the South won government approval Thursday to construct two new reactors at an estimated cost of $14 billion, the strongest signal yet that the three-decade hiatus of nuclear plant construction is finally ending.
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Stocks fall at the open as Greek deal is held up
U.S. stocks opened lower Friday after Greece’s bailout deal was put on hold, a day after it seemed that the country had satisfied its creditors.
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Asia stocks slip as Greek bailout remains in limbo
Asian stock markets dropped Friday after Europe’s finance ministers demanded more spending cuts from Greece before clearing a (euro) 130 billion ($170 billion) bailout to stave off the country’s bankruptcy.
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Google’s first employee leaves to join education nonprofit
Google Inc.’s first hired employee, Craig Silverstein, is leaving the tech giant, where he’s worked since its founding, to sign on with the rising education startup Khan Academy.
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