New York, NY (AP) - Stocks are closing higher after spending most of
the day in a slump.
A late afternoon surge helped all three major indexes recover
ground lost earlier in the day. A drop in the dollar boosted shares
in energy and materials companies.
An unexpected rise in the U.S. unemployment rate to a
seven-month high pushed most stocks down Friday morning.
According to preliminary calculations, the Dow Jones industrial
average is up 19, or 0.2 percent, to close at 11,382.
The S&P 500 is up 3, or 0.3 percent, to 1,224. The Nasdaq
composite index is up 12, or 0.5 percent, to 2,591.
Rising shares outpaced falling ones by almost two to one on the
New York Stock Exchange. Volume was 907 million shares.
(Copyright 2010 by The Associated Press. All Rights Reserved.)