Stocks Soar on Jobs Data

THE STOCK MARKET STAGED A GIANT TRIPLE DIGIT RALLY...AFTER NEWS THAT THE UNEMPLOYMENT LINES ARE GETTING SHORTER.


THE NUMBER OF NEWLY LAID OFF WORKERS FILING FOR UNEMPLOYMENT BENEFITS FELL 20-THOUSAND LAST WEEK TO THE LOWEST LEVEL IN 10 MONTHS. IT'S MORE EVIDENCE THAT JOB CUTS ARE EASING.. AND THAT TRIGGERED


A ---- GAIN FOR THE DOW, PUTTING IT BACK OVER (?) THE 10-THOUSAND MARK. THE NASDAQ -----.


BOTH THE HOUSE AND SENATE VOTED YES ON A BILL EXTENDING UNEMPLOYMENT BENEFITS....AND FRIDAY MORNING PRESIDENT OBAMA SIGNS IT INTO LAW. THE BILL ADDS ANOTHER 14 WEEKS OF BENEFITS FOR PEOPLE WHO CAN'T FIND WORK..WITH AN ADDITIONAL SIX WEEKS IN STATES WITH THE HIGHEST UNEMPLOYMENT RATES.


AMERICANS SPENT A LITTLE MORE IN OCTOBER..


HANDING MANY RETAILERS THEIR SECOND CONSECUTIVE MONTHLY SALES GAIN. COOLER WEATHER AND EARLY HOLIDAY DISCOUNTS BROUGHT OUT THE SHOPPERS. THE BIGGEST WINNERS WERE COSTCO, GAP, TJ MAXX AND MARSHALLS...EVEN LUXURY RETAILERS ENJOYED A REBOUND WITH SALES RISING AT SAKS AND NORDSTROM..


AND THE NEW YORK YANKEES 27TH WORLD SERIES WIN COULD BE GOOD OMEN FOR WALL STREET. ACCORDING TO A RESEARCH GROUP ..HISTORICALLY, IN THE YEARS THAT THE YANKEES HAVE WON THE WORLD SERIES TITLE, THE S&P HAS AVERAGED A GAIN OF 10 PERCENT. AND WHEN THE SERIES IS CLINCHED IN SIX GAMES, EVEN BETTER, THE MARKET HAS RALLIED ABOUT 15 PERCENT.



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