Saturday November 8, 01:54 PM
US STOCKS-Wall St ends higher on bargain hunting
NEW YORK, Nov 7 (Reuters) - U.S. stocks rose on Friday and investors picked up shares at multi-year lows after employers slashed October payrolls by an unexpectedly severe 240,000.
Analysts said the market had already taken into account the bad news in the government's October jobs report.
The Dow Jones industrial average shot up 248.10 points, or 2.85 percent, to end unofficially at 8,943.89, based on the latest available data. The Standard & Poor's 500 Index gained 25.87 points, or 2.86 percent, to finish unofficially at 930.75. The Nasdaq Composite Index jumped 38.70 points, or 2.41 percent, to close unofficially at 1,647.40.
(Reporting by Kristina Cooke; Editing by Jan Paschal)
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