Stocks closed only slightly higher Friday despite the best jobs report in months, as a six-session rally that took the markets to a two-year high was pretty much due for a breather.

The blue-chip Dow Jones Industrial Average ($INDU) closed up just nine points at 11,444, while the broader S&P 500 ($INX) gained five to 1,226. The tech-heavy Nasdaq Composite ($COMPX) added two points to close at 2,579.

A bit of a pause was to be expected at the end of week after Thursday's monster 220-point rally on the Dow, says Kenny Polcari, managing director at interdealer broker ICAP.

Sure, the October employment report "blew the roof" off investors' expectations, Polcari says, but after a week of gains on the mid-term elections and the Federal Reserve's commitment to buying another $600 billion in Treasurys, the good news was priced in and then some.

traders stock market New York Stock Exchange"The market isn't trading on technicals and fundamentals as much as it is the fact that the federal government is pumping money into it and will continue to do so for the next six or seven months," Polcari says.

Still, the Dow tacked on 3% for the week, while the S&P 500 added 3.6%. The Nasdaq rose 2.9%.

For more on Polcari's take from the floor of the New York Stock Exchange, see the video above.

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buzzingstreet

Nice post. Its always better to think before investing money in stock market. Investment should be done in share market but with the aim to increase our funds so speculation should not be the mode of investment. Investors should know why they are investing money in any stock.
Regards

March 01 2011 at 1:14 AM Report abuse rate up rate down Reply
cvdunbar

GOOD, STOCKS ARE UP, WALLSTREET IS HAVING FUN, BUT DIESEL PRICES ARE GOING UP TO, SO WE THE SUCKERS WILL PAY IN THE END, LOL, HERE WE GO AGAIN.

November 07 2010 at 10:57 PM Report abuse rate up rate down Reply
Cactus Pete

I don't mind the stock market. I have stocks. I just think they should make it without taking it from main street. They love capitalism on the way up and when things go south they want a handout.

November 07 2010 at 6:56 PM Report abuse rate up rate down Reply
crop duster

thanks for a.o.l. we love you

November 07 2010 at 5:50 PM Report abuse +1 rate up rate down Reply
Cactus Pete

Stocks were up because Bernanke was willing to give into inflation, which we are already seeing, in favor of wall street. Obama is saying one thing and doing another.

November 06 2010 at 7:42 PM Report abuse +4 rate up rate down Reply
hjgjghkh

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November 05 2010 at 11:17 PM Report abuse -3 rate up rate down Reply
fasteddie1257

Greasy Libs still believe they have a brain. Gross default of Humanoid existence.

November 05 2010 at 10:55 PM Report abuse rate up rate down Reply
fasteddie1257

As long as the Fed keeps pumping up the Dow with Bond buy-backs....OMG fools see an upsurge in the Market as a good thing. Where are the JOBS? These money grabbers are not spending the profits here. GET A CLUE.

November 05 2010 at 10:46 PM Report abuse +3 rate up rate down Reply
jshedl10411

Do you DMF's really think that a recovery is taking place? We are still 7 Million jobs at a loss from when we started before this recession! Start reporting the TRUTH!

November 05 2010 at 10:02 PM Report abuse +1 rate up rate down Reply
mkw737

The electorate spoke - but did you vote for Gridlock? see this petition ; http://worktogetherDC.org

November 05 2010 at 7:19 PM Report abuse rate up rate down Reply
1 reply to mkw737's comment
fasteddie1257

FO and D...Dipstick. Lick the Demo-crack. We won, they lost. They compromise or go home. Repeal Obama-care, gut the Pig, transparency...SHOW US THE MONEY. Keep tax cts alive. Audit the Federal Reserve...

November 05 2010 at 10:51 PM Report abuse +1 rate up rate down Reply