226-Point Sell-Off Erases Rally

Unemployment rate holds at 9.7%

(NEWSER) - A better-than-expected jobs report fueled a rally in stocks to close out the week. Nonfarm payrolls fell by 36,000 in February, far less than the predicted level of 75,000, the Wall Street Journal reports.

• The Dow gained 122.06 points to close at 10,566.20.
• The Nasdaq picked up 334.04, settling at 2,326.35.
• The S&P 500 added 15.72, closing at 1,138.69.

Jobs rally undercut by, dollar boom, sinking commodities

(NEWSER) - Stocks posted modest gains today after a morning rally off an unexpectedly strong jobs report. The surge lost steam when a rise in the dollar sapped commodity stocks, the Wall Street Journal reports.

• The Dow rose 22.75 points to close at 10,388.90.
• The Nasdaq added 21.21, settling at 2,194.35.
• The S&P 500 gained 6.06, closing at 1,105.98.

Fear of Sept. stock pullback drives gold to 6-month high

(NEWSER) - Stocks jumped today on the strength of blue-chip financials after mostly idling. Volume was low as investors waited for the government’s monthly employment report, due tomorrow, the Wall Street Journal reports. AIG and Citigroup rose, while safe-haven buying pushed gold to almost to $1,000 an ounce, a level not seen since February. The Dow rose 63.94 points to close at 9,344.61. The Nasdaq added 16.13 to close at 1,983.20, and the S&P 500 rose 8.49 to settle at 1,003.24. More»

Gains in durable goods mostly due to defense, aircraft orders

(NEWSER) - Stocks barely eked out gains today, as positive reports on housing and durable goods orders failed to excite investors, the Wall Street Journal reports. New-home sales rose 9.6% in July, beating expectations, while inventories dropped to the lowest level since April 2007. The Dow closed up 4 points at 9,544. The Nasdaq and S&P 500 were flat, closing at their opening values of 2,024 and 1,028, respectively. More»

Investors await consumer confidence, housing, GDP data

(NEWSER) - Stocks closed near to opening levels today, with the Dow just barely extending its winning streak into a fifth session, the Wall Street Journal reports. All the indices hit new highs for 2009 early, boosted by housing data, investors pulled back ahead of looming reports on consumer confidence, new home sales, and second-quarter GDP. The Dow closed up 3.32 points at 9,509.28. The Nasdaq sank 2.92 to close at 2,017.98, and the S&P 500 lost .57, closing at 1,025.56. More»