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Article: Traders put market rally on hold after steep gains
- Article from:
- AP Online
- Article date:
- April 3, 2009
- Author:
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Stocks fluctuated Friday but are poised for their fourth straight week of gains as investors looked past a jump in the unemployment rate to 8.5 percent and braced for corporate earnings.
Stocks have rallied 20 percent since early March from their lowest levels in nearly 12 years. The Dow Jones industrials edged above the 8,000 mark in afternoon trading, having breached that level on Thursday for the first time since February.
The Labor Department's March unemployment report wasn't as bad as the worst expectations in the market. The numbers were still grim but didn't derail an emerging sense of optimism over the past four months that the economy may be beginning to right ...