Employment News
Stocks up on Good Job Data
By joshua | Dated: 10-08-2009
After a Labor Department report that claims for jobless benefits fell more than expected last week, the stock market resumed its uphill climb. Also buoying the market was the news that the retail spending increased last month for the first time in over a year, and an unexpectedly strong profit showing from Alcoa.New claims for jobless benefits fell to 521,000 from the previous week’s 554,00. This was much better than had been anticipated and is the lowest level since January. Continuing claims fell to 6.04 million, which is also slightly better than expected.
The Dow closed up 0.8 percent, at 9,803.27.
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