November 5th, 2010
10:05 PM ET

Stocks end at 2-year highs as bonds take a breather

A look at the day's business news headlines:

Stocks end at fresh 2-year highs 
 
U.S. stocks wavered Friday but ended with slight gains, as investors digested a strong jobs report at the end of a week full of big economic news. All three major indexes closed at fresh two-year highs and the Dow and S&P logged their biggest weekly gains in more than two months.

The Dow Jones industrial average added 9 points, or 0.1 percent, to end at 11,444, the highest close since Sept. 8, 2008. The blue chip index jumped 2.9 percent during the week.

The S&P 500 rose 5 points, or 0.4 percent, to 1,226, the highest level since
Sept. 19, 2008. The broad index increased 3.6 percent during the week. The tech-heavy Nasdaq added 2 points, or 0.1 percent, and finished the week up 2.9 percent, at 2,579, the highest since Jan. 3, 2008.

Bonds take a breather after busy week 
 
Treasury prices fell across the board Friday after an upbeat jobs report, ending a week of run-ups on a major Federal Reserve decision and midterm elections.

The Labor Department released its monthly labor report Friday that showed
the economy added 151,000 jobs in October. The figure was much higher than the 68,000 gain that economists surveyed by CNNMoney.com were expecting.

Upbeat news decreases the appeal of Treasuries, because investors look to plunk their cash in higher-yielding assets. Bad news usually sends bonds higher because they're backed by the U.S. government and considered a low-risk asset.

- CNNMoney.com reporters Julianne Pepitone and Hibah Yousuf contributed to this report.

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Filed under: Economy
soundoff (3 Responses)
  1. JoeLewis

    Wow, if this story is true, and it must be, isn't President O'Bama a super hero. I can't wait to vote for him in 2012.

    November 6, 2010 at 5:17 pm | Report abuse |
  2. George

    Wow is because of bail out?

    November 7, 2010 at 3:28 pm | Report abuse |
  3. George

    Wow can't believe i am nor blocked here. On polital ticker when anything I talk about in favor of healthcare reform. I am blocked.

    November 7, 2010 at 3:31 pm | Report abuse |