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Stocks soar for another weekly gain...
NEW YORK Stock prices closed sharply higher on Wall Street. The Dow Jones industrial average rose 123 to ten-thousand-716. Gainers on the New York Stock Exchange outnumbered losers by better than a three-to-one margin.The Nasdaq Composite Index gained 29 at two-thousand-86.And the Standard-and-Poor's 500 Stock Index was up 13 at 12-hundred-three.Trading volume on the New York Stock Exchange totaled one-point-six (b) billion shares. Volume on the Nasdaq Market came to one-point-seven (b) billion shares.Stocks posted weekly gains for the second time this year, and the second week in a row. The Dow surged 289 points for the week, the Nasdaq jumped 51 points and the S-and-P gained 31 and a-half points for the week.Investors were undaunted by weak job growth figures, with the notion that they will prompt the Federal Reserve to be less aggressive in raising interest rates.The Labor Department reported there were just 146-thousand jobs created in January, compared to a forecast of 200-thousand. But it's still the highest number since October. And the unemployment rate took an unexpected dip from five-point-four percent in December to five-point-two, the lowest since September of 2001.
Copyright 2005 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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