Markets Shrug Off Jobs News, Stage Opening Rally
The government said that employers slashed nearly 600,000 jobs in January, pushing the national unemployment rate to 7.6 percent.
But bad jobs numbers were already "baked into" the markets, as they say, so in the first 15 minutes of trading, the Dow is up about 112 points, or more than 1 percent.
The S&P 500 is and the Nasdaq are both up well more than 1 percent.
Overseas, the Chinese stock market was up 4 percent, its biggest jump since October.
-- Frank Ahrens
February 6, 2009; 9:51 AM ET
Categories: The Ticker | Tags: China, Dow Jones, nasdaq, s&p 500
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