Dow closes above 11,000 for first time since May

By Reuters
Posted Oct. 8, 2010 at 3:14 p.m.

U.S. stocks finished higher Friday, with the Dow closing above the 11,000 mark for the first time in five months, as a surprisingly weak jobs report strengthened the case for more stimulus from the Federal Reserve.

Based on the latest available data, the Dow Jones industrial average gained 57.90 points, or 0.53 percent, to end unofficially at 11,006.48. The Standard & Poor’s 500 Index added 7.09 points, or 0.61 percent, to finish unofficially at 1,165.15. The Nasdaq Composite Index advanced 18.24 points, or 0.77 percent, to close unofficially at 2,401.91.

For the week, the Dow and S&P 500 each rose 1.6 percent while the Nasdaq gained 1.3 percent.


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