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Archive for Saturday, January 5, 2002

Stocks continue to rise despite report

January 5, 2002

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— Stocks rose Friday for a third straight session, posting solid gains despite the worst monthly unemployment report in more than six years.

Investors focused on data that showed fewer jobs were cut in December than in previous months; those numbers seemed to strengthen Wall Street's conviction that there will indeed be an economic turnaround this spring. Technology stocks continued their advance, and the momentum again spread to the broader market.

The Dow Jones industrial average closed up 87.60, or 0.9 percent, at 10,259.74, its best close since late August.

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