今日股市 (09/04/2009)

Today is Friday and weather is sunny in here.

Stocks jumped after the government reported that the pace of job losses slowed in August to the lowest level in a year.

Unemployment is usually seen as the economy’s biggest hurdle to recovery, and concerns about it have been weighting on the stock market. As long as job losses remain high, consumers could hold off spending money, which the U.S. economy badly needs to resume growth.

However, the trading volume is thin and we‘ll all have a long holiday weekend.

Markets will be closed on Monday for Labor Day.

The Dow rose 96.66, or 1 percent, to 9,441.27. The Standard & Poor's 500 index rose 13.16, or 1.3 percent, to 1,016.40, while the Nasdaq composite index added 35.58, or 1.8 percent, to 2,018.78.

Some analysts said the market overreacted to the jobs report and the economic isn’t strong enough to support the market at it’s current levels.

Analysts said a test of the market will come later in the month as traders return from vacation and raise more questions about whether investors have bet too soon the economy's ability to recover.

Some traders are also concerned about the market's track record for September, which has been the worst month for stocks over the past 80 years. Since 1929, the S&P 500 index has lost an average 1.3 percent during the month. But the index has gained about 2 percent in the 14 Septembers that followed the end of bear markets.


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