Stocks zigzag on unemployment data

Nov 6th, 2009 - MSNBC

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NEW YORK - Investors added to the week's strong gains in the stock market after finding some positives in a surprisingly weak jobs report.

Stock indexes posted a modest advance in light trading Friday after the Labor Department said the nation's unemployment rate topped 10 percent in October for the first time since 1983, but also that the pace of job losses slowed.

The rise in joblessness, while not welcome news for the economy, reassured some investors that the Federal Reserve will have to hold interest rates low for some time. That tends to weaken demand for the dollar, which in turn gives a boost to stocks.

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