Stocks, dollar get boost after upbeat US jobs news

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Published: November 5,2010

LONDON – Better than expected U.S. jobs data supported stocks Friday following massive gains a day earlier in the wake of the Federal Reserve’s decision to pump $600 billion in newly-created money into the economy. The dollar surged after the forecast-busting jobs figures.

In Europe, the FTSE 100 index of leading British shares was up 3.30 points, or 0.1 percent, at 5,866.18, a day after it had closed at its highest level since June 2008, while France’s CAC-40 rose 9.04 points, or 0.2 percent, at 3,925.82. Germany’s DAX was 16.03 points, or 0.2 percent, higher at 6,750.72, a day after it joined the FTSE to close at a 28 month high.

In the U.S., the Dow Jones industrial average was down 11.20 points, or 0.1 percent, at 11,423.64 soon after the open while the broader Standard & Poor’s 500 index was up a little less than a point at 1,221.85.

On Thursday, the Dow closed at its highest level since just before U.S. investment bank Lehman Brothers collapsed in September 2008 and the S&P hit a 2010 high.

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