Mon, May 28, 2012, 6:50 PM EDT - U.S. Markets closed for Memorial Day

Strong jobs report sends Dow to highest since '08

Stocks jump on reports of strong January job growth, service industry expansion

NEW YORK (AP) -- The Dow Jones industrial average has closed at its highest level since before the 2008 financial crisis.

The Dow jumped 157 points Friday to close at 12,862. That's the highest since May 2008. The Nasdaq composite index closed at its highest level since December 2000.

Before the market opened, the Labor Department said companies hired 243,000 employees in January. That's the strongest job growth in nine months. The increase in hiring pushed the unemployment rate down to 8.3 percent.

The S&P 500 index added 19 points, or 1.5 percent, to 1,345.

More than four stocks rose for every one that fell on the New York Stock Exchange. Trading volume was 4.6 billion shares.

 

3 comments

  • Jim  •  Racine, Ohio  •  3 months ago
    243,000, wow did we start 12 pipelines that we did not hear about or what
  • Anonymouse  •  Beaverton, Oregon  •  3 months ago
    BUFFETT SAID THERE IS A CLASS WAR AND THE RICH ARE WINNING--
    The FEDeral Reserve [a Private Corporation-few know this] is Owned by the Big banks US and European. The FED gives Our money to those Banks.
    –No money gets to Main St.–Small Businesses make 70% of jobs–
    –Those small businesses get their capital from pensioners and middle class savers CD’s in local/regional banks and credit unions-
    -Those savings are wiped out by FED zero interest rate policy of Greenspan and Bernanke–
    –Until Interest rates normalize at 4-5% and people can save again–THERE CANNOT BE ANY JOBS INCREASE…SO–
    EVERYONE TAKE YOUR MONEY OUT OF THE BIG BANKS NOW AND SAVE WHAT YOU HAVE LEFT–THEN THEY CANNOT GAMBLE ON DERIVATIVES WITH YOUR MONEY–[RESTORE THE GLASS STEAGALL ACT]–
    –PUT YOUR MONEY IN LOCAL/REGIONAL BANKS AND CREDIT UNIONS WHERE IT CAN CREATE JOBS–
    *****LOBBY TO END THE UNCONSTITUTIONAL, CROOKED FED—–
    **PLEASE COPY AND SEND THIS VIRAL–
    Jim Rogers: "The Fed is Lying to Us"
    Stock-Markets / Central BanksDec 08, 2011 - 07:12 AM
    By: Money_Morning
    David Zeiler writes: Despite statements to the contrary, the U.S. Federal Reserve has continued to pump money into the economy, says investing legend Jim Rogers.
    The resulting low interest rates and creeping inflation, he says, are destroying the wealth of millions.
    "[Federal Reserve Chairman Ben] Bernanke said last August he was keeping interest rates artificially low," Rogers told Yahoo! Finance on Tuesday. "The only way you can do that is to go into the market."
    As proof, Rogers pointed to the rise in the broad M2 measure of the U.S. money supply, which has increased more than 5% since the Fed's second quantitative easing program (QE2) ended on June 30, and 20% since November 2008.
  • Thoughtful  •  3 months ago
    2.7 million job losses. This is the actual number buried in labor department site. they gave the adjusted numbers to fool everyone.
    • Larry 3 months ago
      YOU are right !!!!!!!!! The government hides numbers
      inflation will never be accurate either due to the playing with numbers
 
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