Upbeat Employment Reports Lift Markets To Higher Close

December 4, 2009 1:53 PM |
Fewer than expected job losses along with a drop in the unemployment rate lifted the markets to a higher close with the Dow gaining 22 points to 10,388. Nasdaq climbed 21 points to 2194.

On the upside

Flow International (Nasdaq: FLOW) reported higher second quarter earnings that topped estimates.

While third quarter sales of data storage equipment fell, both EMC (NYSE: EMC) and IBM (NYSE: IBM) expanded their market share.

Southwest Airlines (NYSE: LUV) reported that traffic climbed 11.7% in November.

On the downside

Bloomberg reported that Apple (Nasdaq: AAPL) is in discussions to acquire online music service Lala.

Alcoa (NYSE: AA) increased prices on some of its heat treat plate products.

Falling gold prices weighed down shares of Goldcorp (NYSE: GG).

In the broad market, advancing issues outpaced decliners by a margin of more than 2 to 1 on the NYSE and by nearly 3 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks soared 14 points to 602.

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