Stocks Up on Sunny Jobs Data

By Kevin Spak,  Newser Staff
Posted May 7, 2009 8:43 AM CDT
Traders work on the floor of the New York Stock Exchange at the post that handles Citigroup Monday, May 4, 2009.   (AP Photo/Richard Drew)
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(Newser) – Stocks were up again this morning, after promising unemployment numbers, the Wall Street Journal reports. The Dow rose 53 points, while the Nasdaq and S&P advanced 0.5% and 1% respectively. Wal-Mart reported a strong quarter, pulling retail stocks higher, while banks shot up ahead of stress test results. Bank of America added 16%; Citi was up 12%. New jobless claims fell 34,000 to 601,000 last week, the fourth such drop in five weeks.