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Wall Street continues in rally mode after jobs report
Friday,June6,2003,11:56 AM
New York-AP -- Wall Street, while off its best levels of the day, is sending share prices higher in very heavy trading. The Dow Jones industrial average is up 116 points. Gainers on the New York Stock Exchange hold a two-to-one lead over losers.
The Nasdaq Composite Index has gained 13 points.
And the Standard-and Poor's 500 Stock Index is up nine points.
Trading on the New York Stock Exchange during the first two hours totaled 775 (M) million shares. Volume on the Nasdaq Market came to one-point-three (b) billion shares.
Stocks rallied despite a government report showing the jobless rate last month rose to its highest level in nine years.
Even so, analysts say since the unemployment report contained no major surprises, investors have felt comfortable continuing Wall Street's rally.
Stocks have been pushing higher in recent sessions on the hopes for an improved economic recovery in the months ahead.
With today's trading, the Dow has managed to move above 92-hundred for the first time in eleven months, while the S-and-P went above one-thousand for the first time in about a year.
Both the Dow and the S-and-P are higher for the sixth consecutive trading session.
Copyright 2003 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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