New York, NY (AP) - The Dow Jones industrial average is closing
above 11,000 for the first time in five months as hopes build that
the Federal Reserve will take more action to get the economy going
A weaker jobs report early Friday added to a series of tepid
economic indicators in recent weeks that have added to expectations
that the Fed will announce new steps to encourage borrowing when it
meets in early November.
According to preliminary calculations, the Dow is closing up 58,
or 0.5 percent, at 11,006.
The S&P 500 index gained 7, or 0.6 percent, to 1,165, and the
Nasdaq gained 18, or 0.8 percent, to 2,402.
About three stocks rose for every two that fell on the New York
Stock Exchange, where volume came to 945 million shares.
(Copyright 2010 by The Associated Press. All Rights Reserved.)