Dow Surges Back Again: Up 423

S&P 500 and Nasdaq join the rebound
By John Johnson,  Newser Staff
Posted Aug 11, 2011 3:06 PM CDT

(Newser) – Dizzy yet? The stock market rebounded strongly yet again, with analysts giving credit to decent jobs data, better-than expected results from tech bellwether Cisco, and decreased worries about Europe. The numbers:

  • Dow: Up 423 (3.9%) to 11,143
  • S&P 500: Up 52 points (4.6%) to 1,173
  • Nasdaq: Up 112 points (4.7%) to 2,493

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The jobs report showed that the number of people claiming new unemployment benefits fell slightly last week. “While the economy may not be getting better, jobless claims indicate that the labor market may not be getting worse,” one analyst tells MarketWatch. Fears about Europe, meanwhile, eased on reports that Italy would try to contain market volatility by banning a procedure known as naked short selling, notes the Wall Street Journal. (Read more stock market stories.)

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