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Surprise 180 for Stocks; Markets End Mixed

Matt Egan FOX Business 03/06/2009 15:04
Surprise 180 for Stocks; Markets End Mixed - Wall Street


A furious late-day comeback effort erased heavy losses on Wall Street Friday as the markets managed to mostly shrug off a new report showing the U.S. unemployment rate soared last month to the highest level since 1983.



The Dow Jones Industrial Average rose 32.50 points, or 0.49%, to 6626.94, the S&P 500 gained 0.83 point, or 0.12%, to 683.38 and the Nasdaq Composite lost 5.74 points, or 0.44%, to 1293.85. The consumer-friendly FOX 50 added 3.76 points, or 0.73%, to 517.23.

Friday marked another turbulent trading day for stocks as Wall Street initially rallied, expressing relief that February's job-loss figures weren't worse than many were already bracing for. That enthusiasm quickly faded as tech and banking stocks briefly sent the Dow below the 6500 level for the first time since April 1997 before a late-day rally brought the markets back to even.


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