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Stocks rally at midday
NEW YORK Stock prices are posting strong gains on Wall Street. The Dow Jones industrial average is up 104 points at eleven-thousand-75. Gainers on the New York Stock Exchange hold a nearly three-to-one lead over losers.The Nasdaq Composite Index has gained 12 points at 22-hundred-62.And the Standard-and Poor's 500 Stock Index is up nine at 12-hundred-81.Trading on the New York Stock Exchange during the first two hours totaled 553 (m) million shares. Volume on the Nasdaq Market came to 687 (m) million shares.Stocks have gotten a lift as traders react to the latest employment news and decline in crude oil futures.The Labor Department says there were 243-thousand jobs added to payrolls last month, a larger-than-expected number.The unemployment rate rose to four-point-eight percent, an increase of one-tenth. The rise was attributed to a larger number of persons in the labor force, out looking for work.Average wages rose three-tenths of one percent, failing to set off inflation warning bells.Oil prices are lower, trading just above 60 dollars a barrel in New York.
Copyright 2006 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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