Dow Jones Jumps 200 Points Despite Weak Jobs Data; Pelosi Sees 'Momentum' For Stimulus Deal

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Stocks rallied midday Friday, with the Dow Jones Industrial Average up nearly 200 points to cross above 30,000, despite disappointing payroll data.
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The S&P 500 rose 0.7%, the Dow Jones industrials gained 0.6% and the Nasdaq also advanced 0.6% in the stock market today. Small caps tracked by the Russell 2000 outperformed, up 1.7%. Volume was higher on both major exchanges vs. the same time Thursday.

Early Friday, the Labor Department said nonfarm employers added 245,000 jobs in November. That fell well below Econoday's forecast for 500,000 new hires and October's upwardly revised 610,000 jobs. The unemployment rate dipped to 6.7% from 6.9%, and was slightly lower than expectations for 6.8%.

Meantime, lawmakers continue to discuss a potential coronavirus stimulus deal. On Thursday, Senate Majority Leader Mitch McConnell said he sees "hopeful signs" for a deal. On Friday, House Speaker Nancy Pelosi said she sees "momentum" for a bipartisan aid package.

Nasdaq, S&P 500 Hit New Highs

The Nasdaq has rallied 38% this year, while the S&P 500 is up 13% through Thursday's close. The Dow is up 5%, and the small-cap Russell 2000 has gained 10%. Read The Big Picture for detailed daily market analysis.

U.S. Stock Market Today Overview Index Symbol Price Gain/Loss % Change Dow Jones (0DJIA) 30122.54 +153.02 +0.51 S&P 500 (0S&P5) 3691.38 +24.66 +0.67 Nasdaq (0NDQC ) 12453.37 +76.19 +0.62 Russell 2000 (IWM) 187.33 +3.41 +1.85 IBD 50 (FFTY) 39.74 +0.24 +0.61 Last Update: 12:48 PM ET 12/4/2020

For the week, the Nasdaq is eyeing a 2% gain, the S&P 500 a 1.5% advance and the Dow, a 0.8% increase.

The market…
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