Gains in U.S. stocks accelerated Friday afternoon, as investors chose to fixate on a smaller-than-expected number of jobs lost in August, rather than the unemployment rate's ascent to its highest level since June 1983.
The Dow Jones Industrial Average was recently up 83 points, or 0.9%, to 9428, which had every component in the black recently, led by a 2.5% jump in General Electric. Also helping were gains of about 2% in Caterpillar and Walt Disney. Earlier in the day, the index's gains were much smaller.
The U.S. unemployment rate jumped to a 26-year high of 9.7% in August as nonfarm payrolls fell by 216,000, the 20th consecutive monthly decline, the Labor Department estimated Friday.
http://www.marketwatch.com/story/us-stock-gains-accelerateled-by-industrials-tech-djia-up-78-2009-09-04
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