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Home U.S. World Entertainment Sports Business Health Science Technology Politics Offbeat Environment Travel News Articles U.S. Markets Jump On Better Than Expected Jobs Data Email Facebook Digg Twitter Buzz Up! ShareThis March 5, 2010 5:07 p.m. EST Topics: market and exchange, economy, business and finance, United States Mitchell Jaworski - AHN Reporter New York, NY, United States (AHN) - U.S. markets rallied Friday as the unemployment picture did not worsen in February as expected. The rally pushed the Dow Jones Industrial Average to its highest close since Jan. 20. Before the opening bell, the Labor Department reported a 9.7 percent unemployment rate in February, flat with January. The result was better than the small increase to 9.8 percent economists had expected. The department said non-farm payrolls fell 36,000 for the month, better than the 68,000 expected, as the inclement weather did not impact employment as anticipated. The Dow Jones added 122 points, or 1.2 percent, its largest one-day advance since Feb. 6. Buyers were in control of the Dow as 27 of 30 components finished the session higher. American Express (NYSE: AXP) was a Dow leader, up 3.3 percent, as financials were strong on a whole. The S&P 500 added 16 points, or 1.4 percent, on Friday. Financials led the way as the sector added 2 percent on the session. Energy stocks helped push the index higher as well, up 1.8 percent on the day. The Nasdaq Composite rose 34 points, or 1.5 percent, as big-cap tech names were strong. Apple (NSDQ: AAPL) led the way, adding 4.1 percent after announcing its iPad tablet will go on sale April 3. Crude oil added $1.29 a barrel on Friday, settling at $81.50 on the New York Mercantile Exchange. That marks the highest close for the commodity since Jan. 11. Next week will be slow on economic data without anything on tap until wholesale inventories on Wednesday. Copyright © 2003 - 2010 AHN - All rights reserved.Redistribution, republication. syndication, rewriting or broadcast is prohibited without the prior written consent of AHN.License AHN news for your website, business, digital signage network or publication. Most Popular Stories Keyshia Cole, Daniel Gibson Welcome Baby Boy GLAAD Calls Out Life & Style For Focusing On Shiloh Jolie-Pitt's Hairstyle Rebuilding Redskins Release 10 Players Just Prior To Free-Agency Arizona Bus Crash Kills 6 Quarterback Favre Tells Leno Announcement On Possible Return Won't Be Soon Jets Acquire Cromartie, Panthers Cut Delhomme As NFL Free Agency Begins Baylor Women's Hoops Player Griner Suspended Two Games For Punch The CW Renews "Smallville" For Season 10 Justin Bieber To Launch New Album On QVC Israeli Fans Call For Metallica Concert Boycott Recent Posts Most Popular Comments Recent Comments Popular Threads Home | U.S. | World | Entertainment | Sports | Business | Health | Sci / Tech | Politics | Weird / Offbeat Follow AHN on Twitter AHN Social News connects you with friends and the news Client Login | Submit News | Privacy Policy | Terms of Use | Contact | Content Services © 2010 AHN All Rights Reserved

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