Oct. 15--Wall Street is jazzed again.

The Dow Jones industrial average, in a feel-good milestone, closed above the 10,000 mark for the first time in more than a year on Wednesday. Good earnings reports from J.P. Morgan Chase and Intel helped to send the key index of 30 major companies up 144.80 points to close at 10,015.86.

"Happy, I'm happy," said Sheldon T. Anderson, Miami-based chief executive officer for the southeast region of Northern Trust, which caters to wealthy individuals and institutions. "Ten thousand is a big deal -- for psychological reasons, if for no other."

Still, nagging doubts about the economy -- especially high unemployment -- muted some of the celebration.

The Dow Jones industrial average has rebounded 53 percent since hitting a 12-year low of 6,547 on March 9. Back then, investor sentiment was at a nadir with investors jittery about whether the unprecedented economic and financial turmoil might tip the country into a full-blown depression.

The S&P 500 Index, which measures a broader base of major stocks, has also steadily risen from its March lows, when the bears were calling the shots on Wall Street. The S&P chalked up a sixth consecutive day of gains Wednesday to close at 1092.02, up 1.75 percent.

Financial stocks such as Bank of America and Citigroup, once viewed as radioactive, helped lead the market's rise. Meanwhile, oil rose above $75 a barrel in New York, the highest level in a year.

But Main Street isn't ready to join the party until folks see some life in the bleak job market, which pushed Florida's unemployment rate to 10.7 percent in August. September unemployment figures will be released Friday.

"A rising stock market is great for retirement accounts and for recovering some of the wealth that was lost," said Sean Snaith, an economics professor at the University of Central Florida. "But the talk of economic recovery will ring hollow to many people until we start to see unemployment decline. For Main Street, it really comes down to jobs."

Ramiro Ortiz, senior executive vice president of BankUnited, agreed. "It is great to see confidence coming back in the stock market, but we remain cautiously optimistic.

"We are still seeing challenges in the business community, and unemployment remains at record levels," he said in an e-mail. "Once the housing and employment indicators show signs of sustained improvement, I will be ready to celebrate." The disconnect between Wall Street and Main Street is easy to understand. Wall Street traders fix their gaze well into the future, so the rising stock prices signal expectations that the worst is over. But unemployment is another story entirely.