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September 4, 2010
The U.S. stock markets pulled off their best week in a month Friday as the latest jobs report eased fears somewhat that the country's w eak economy was headed toward a double-dip recession.
The major stock indexes went up more than 1 percent Friday. Stocks were up across nearly all sectors and winners outpaced losers by about 3 to 1.
The S&P 500-stock index, the broadest measure of stocks, rose 1.32 percent to close at 1104.51, the index's fourth consecutive winning day.
The rally was the result of a new labor market report that showed modest private-sector job creation. The report wasn't great but it was enough to tell investors that economic growth hadn't completely stalled and it was better than many had forecast it to be.
The jobs report follows other good news this week of an unexpected increase in both retail sales and the number of contracts signed by homebuyers in July.
The contract signings are seen as a sign that the real estate market could soon see a pick-up in sales.
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