Stocks Up on Positive Job Data

All major indexes are in negative territory for the year

(NEWSER) - The only good thing to say about today's stock market is that it's finally over. The Dow fell a staggering 513 points, or 4.3%, to close at 11,384. It's the worst point drop since December 2008 and the worst percentage drop since February 2009, reports MarketWatch . The S&P 500 plunged 60, or nearly 5%, and NASDAQ dropped 137, about 5%. All three major indexes are now in the red for the year. More»

Jobless numbers, metals sector spark wide rally

(NEWSER) - The major stock exchanges hit highs for the year today as traders reacted positively to news that new jobless claims grew less than projected. Health care was the only sector showing broad losses, a reaction to the Senate's passage of the health care bill, the Wall Street Journal reports.

• The Dow climbed 53.66 points to end the abbreviated session at 10,520.10.
• The Nasdaq picked up 16.05, closing at 2,285.6.
• The S&P 500 gained 5.89 to wrap up at 1,126.48.

(NEWSER) - Stocks headed north early, with the Dow up 93 points, despite bleak economic data and a $9.6 billion loss from GM. Jobless claims unexpectedly leaped last week, with total claims topping 5 million for the first time, while durable goods orders sunk 5.2% in January. But JPMorgan rose 5% ahead of its shareholder meeting, and Bank of America climbed 8% on reports that it was shopping First Republic Bank. More»

Jobless claims reach 7-year high

(NEWSER) - Jobless claims rose to a 7-year high last week, but that didn’t appear to move the needle for stocks, which barely budged at today's open. The Dow crept up 66 points, while the S&P and Nasdaq rose 0.9% and 0.4% respectively. A staggering 32,000 filed new jobless claims last week, to a seasonally adjusted 516,000, a much bleaker number than analysts anticipated. More»

To be fair, they've already had the worst two-day stretch since 1987

(NEWSER) - The economy lost 240,000 jobs in October, bringing unemployment to 6.5%, its highest rate since 1994. It was the 10th-straight negative month, bringing the year’s losses to 1.2 million. But the staggering report did little to move the needle on Wall Street, as the Dow actually rose 136 points before settling back. The S&P and Nasdaq saw similar modest gains of 1.3% and 1.4% respectively. More»