NEW YORK, Nov. 6, 2009 (Kyodo News International) --
(Editors: RECASTING WITH END OF TRADING)
New York stocks rose moderately as buying backed by analysts' upgrade of General Electric Co. more than offset selling resulting from a rise in the unemployment rate for October.
The Dow Jones Industrial Average, which gained 203.82 points Thursday to regain the 10,000 mark for the first time since Oct. 22, added 17.46 points to 10,023.42.
The tech-heavy Nasdaq Composite Index, which rose 49.80 points the previous day, gained an additional 7.12 points to 2,112.44.
Stocks came under pressure in an initial reaction to a Labor Department report showing that the jobless rate for October shot up to 10.2 percent, the highest in 26 years and six months.
But later in the morning, stocks moved higher as investors took heart because nonfarm payroll losses of 190,000 in the report were down from 219,000 in September, market analysts said.
Wall Street was also aided by two influential analysts' upward investment assessment of GE (NYSE:GE) , helping push up other electrical issues, market analysts said.
