Dow Cracks 11K for First Time Since May

Investors think Fed will move to prop up economy
By Newser Editors and Wire Services
Posted Oct 8, 2010 11:00 AM CDT
Trader Albert Young watches the board as he works on the floor of the New York Stock Exchange Friday, Oct. 8, 2010.    (Richard Drew)

(Newser) – Stocks are rising after another weak report on unemployment added to expectations that the Federal Reserve will step in to prop up the US economy. The Dow Jones industrial average climbed above 11,000 this morning for the first time since early May. At midday, the Dow was up 53, or 0.5%, at 11,001. The S&P 500 was up 5, or 0.5%, at 1,163, while the Nasdaq composite was up 10, or 0.4% , at 2,394.

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