Stimulus Hope Lifts Dow 217

Market shrugs off 7.6% unemployment

By Nick McMaster, Newser Staff

Posted Feb 6, 2009 3:21 PM CST

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Stimulus Hope Lifts Dow 217 — Traders laugh as they work on the floor of the New York Stock Exchange in this undated file photo. (AP Photo)

Stocks rallied today as investors anticipated quick action on a stimulus package, MarketWatch reports. Unemployment for January was 7.6%, but investors are betting the frightening figure will spur Congress to expedite the bill. The Dow rose 217.52 to close at 8,280.59. The Nasdaq gained 45.47 to close at 1,591.71, and the S&P 500 added 22.75, settling at 868.60.

For the week, the Dow gained 3.5%, the Nasdaq rose 7%, and the S&P 500 gained 5%.

(More Dow Jones stories.)

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