Dow Has Its Best Close in Nearly 5 Years

Dow has its best close in nearly 5 yearsInvestors, encouraged by a drop in the unemployment rate, sent the Dow Jones Industrial Average to its highest level in nearly 5 years on Friday. And though the jobs report-inspired rally did not last, the Dow still closed up 34.79 points, at 13610.15, for its best finish since December 2007.

The S&P 500, meanwhile, ended a four-day streak of positive finishes, ending slightly lower. According to Reuters, the good news about jobs "was overshadowed by concerns about the coming earnings season, which begins with Alcoa (AA) next week."

The Nasdaq dropped 13.27 points to 3,316.19.

Below is the Associated Press's summary of noteworthy moves in U.S. stocks:

- Apple (AAPL) fell $14.21, or 2.1 percent, to $652.59, causing the Nasdaq to perform worse than other indexes.

- Zynga (ZNGA) plunged 33 cents, or 11.9 percent, to $2.48 after the online game maker said that it expects a third-quarter loss due to weak demand and a charge related to an acquisition.

- Dow component Hewlett-Packard (HPQ) fell 21 cents to $14.73. Moody's Investors Service said it was reviewing its investment-grade credit rating for a possible downgrade after the PC and printer maker cut its profit forecast.

- Avon Products (AVP) rose $1.17, or 7.2 percent, to $17.39 after announcing that its chairman and former CEO Andrea Jung will step down at the end of the year. Jung had come under fire for failing to reverse the company's declines and wrap up a bribery investigation.

- Constellation Brands (STZ) rose $1.48, or 4.3 percent, to $36.20. The wine and liquor company's quarterly results beat Wall Street's forecasts, and it raised its full-year forecast.



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PhyllisFerris

Obama wins this one. Unemployment down; stock market up. Way to go Mr. President.

October 07 2012 at 1:31 PM Report abuse +1 rate up rate down Reply
kafienkarl

It must be Obama's fault.......oh wait a minute it's good news.

October 06 2012 at 8:18 PM Report abuse +1 rate up rate down Reply
twobsmiths

Republicans will say it's a lie.

October 06 2012 at 3:20 PM Report abuse +1 rate up rate down Reply
beemerboxer

When President Clinton defeated G Bush Sr., the slogan of the day was "It's the economy, stupid". As in 2008, America was in the doldrums after Bush Sr.'s presidency; Clinton set about building a new economy and gave America a period of intense prosperity, ending in a decent surplus. GW Bush immediately squandered the surplus on taxes beneficial to the rich more so than to Mr and Ms Average. He opened up lines of credit to pay for two wars and maintain those tax cuts. Slowly, our nation sank into debt, our financial markets went to heck and thousands of jobs, homes and industries were lost. President Obama began the long road back; his flaws acknowledged, he has saved countless jobs, a whole auto industry , (one Mr. Romney has said should have been left to fail), and its ancillaries, and slowed the recession to a point where it is now recovering. It appears ironic that under two Republican presidents, America failed, the last time catastrophically. It has taken two Democratic presidents to lift us back up without inflicting huge hardship on the population. Mr. Romney clearly intends to resurrect the old Bush chestnuts; this apparent newborn genius is going to create 12 million jobs and energize the economy in a New York minute to hear him speak. At the same time he promises no tax increases,(that will be levied on the deficit), tax cuts for the middle class and lots of other seemingly contradictory plans. He does not mention the Ryan intent to modify Medicare, aim for Social Security to become the plaything of the markets or the intent to remove "deductions", including mortgage relief. Mr. Romney may well have his policies but frankly, the other guy has the best bet and can prove it works. Mr. Romney has some bad examples of his same old, same old Republican plans, the results of which have been staring us in the face every day for the last five years.

October 06 2012 at 12:50 PM Report abuse rate up rate down Reply
kafienkarl

Alright recovery continues.

October 06 2012 at 11:11 AM Report abuse +4 rate up rate down Reply
kafienkarl

Most are pleased and Wall Street is putting their money on it. The only people not happy to see the unemployment number drop are extreme Romney lovers. pathetic

October 06 2012 at 11:10 AM Report abuse +2 rate up rate down Reply
rkeeeballs

The repairing of the Republican trashed economy continues !....Obama/Biden 2012 ......America cannot afford a Bush 3...nope !

October 06 2012 at 10:29 AM Report abuse +3 rate up rate down Reply
debnaert

mmmm

October 06 2012 at 10:24 AM Report abuse rate up rate down Reply
wmk3rd

This is an absolute LIE! These numbers are cooked! Can't debate, can't help the stock market!
- Jack Welch

October 06 2012 at 9:54 AM Report abuse -1 rate up rate down Reply
Rosemary

Hey scorch (or is it screech?)
1. Please learn English (or at least how to spell it)
2. "Reply" typically doesn't mean to your OWN comments
3. Stop repeating yourself... it's a sign of senility

October 06 2012 at 7:52 AM Report abuse +1 rate up rate down Reply