Posted: Oct 5, 2012 6:50 AM by Associated Press
NEW YORK (AP) - Stocks are rising in early trading on Wall Street after the government reported that the U.S. unemployment rate fell below 8 percent for the first time in almost four years.
The Dow Jones industrial average rose 66 points to 13,641 shortly after the opening bell Friday. The Dow is heading for its first winning week following two weeks of losses.
The broader Standard & Poor's 500 index climbed eight points to 1,469. The Nasdaq composite rose 14 points to 3,162.
The Labor Department said the unemployment rate dropped to 7.8 percent in September, matching the rate in January 2009, when President Barack Obama took office.
The yield on the 10-year U.S. Treasury note rose to 1.73 percent from 1.68 percent as investors shifted money from bonds into stocks.
(Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)
PLEASE HELP US MODERATE COMMENTS
Offensive or inappropriate comments are subject to removal. To report a comment, please e-mail us at firstname.lastname@example.org, and include the name of the story and information on the comment.
Thank you! KSBY.com
Get deals up to 80% off here!
Find the lowest gas prices in your area
Submit your photos to KSBY
Check out our calendar of events
Watch Daybreak Web Videos in full
Save with Hot Deals across our counties!
Events across the Central Coast
Follow The CW5 on Facebook.
The KSBY online public file.
What do you think? Leave us your feedback.
KSBY is your official CA Lottery station for San Luis Obispo and Santa Barbara Counties