Stocks rally, Dow tops 11,000 on hope Fed eases

[cal04]

http://www.marketwatch.com/story/stocks-rally-dow-tops-11000-on-hope-fed-eases-2010-10-08?dist=afterbell

U.S. stocks ended firmly higher on Friday, with the Dow industrials ending above 11,000 for the first time in five months, after a worse-than-expected jobs report lifted expectations the Federal Reserve will soon boost monetary stimulus. The Dow Jones Industrial Average /quotes/comstock/10w!i:dji/delayed (DJIA 11,006, +57.90, +0.53%) rose 57.90 points, or 0.5%, to end at 11,006.48, its first close above 11,000 since May 3. Shares of Alcoa Inc. /quotes/comstock/13*!aa/quotes/nls/aa (AA 12.97, +0.09, +0.70%) led blue-chip gains, rising 5.7% after the aluminum giant's earnings topped expectations. The Dow gained 1.6% for the week. The S&P 500 index /quotes/comstock/21z!i1:in\x (SPX 1,165, +7.09, +0.61%) gained 7.09 points, or 0.6%, to 1,165.15, led by gains in the materials sector. The Nasdaq Composite /quotes/comstock/10y!i:comp (COMP 2,402, +18.24, +0.77%) rose 18.24 points, or 0.8%, to 2,401.91. The S&P 500 is up 1.7% and the Nasdaq up 1.3% for the week


Dow closes above 11,000 after jobs report
Traders think Fed will take more action to spur economic growth
http://www.msnbc.msn.com/id/39571806/ns/business-stocks_and_economy/

[kirby]

1. More like on hope of Repub win n/t

[DJ13]

2. As usual the market sees things backwards

The fact the Fed sees a need for more easing is a sign the economy is in bad shape.

It shouldnt be a time for celebration.

[rfranklin]

3. The bankers are getting free money now, what else? Perhaps we pay them to take the money?

I don't get this thinking at all. The bankers are taking the free money and buying Treasury bills for an easy risk-free return. but they sure aren't financing any job creation projects.

[ixion]

4. fed "easing" = corporate socialism

It's funny how they're all against socialism until their for it.

[NightWatcher]

5. more layoffs means more profits, yay!

[TexasObserver]

6. It's more good news for Democrats and those who support Democrats.