AGL 38.75 Increased By ▲ 0.53 (1.39%)
AIRLINK 129.10 Increased By ▲ 0.13 (0.1%)
BOP 8.66 Increased By ▲ 0.81 (10.32%)
CNERGY 4.72 Increased By ▲ 0.06 (1.29%)
DCL 8.49 Increased By ▲ 0.17 (2.04%)
DFML 39.30 Increased By ▲ 0.36 (0.92%)
DGKC 83.25 Increased By ▲ 1.31 (1.6%)
FCCL 33.95 Increased By ▲ 0.53 (1.59%)
FFBL 75.75 Increased By ▲ 0.04 (0.05%)
FFL 12.85 Increased By ▲ 0.03 (0.23%)
HUBC 111.00 Increased By ▲ 0.64 (0.58%)
HUMNL 14.17 Increased By ▲ 0.16 (1.14%)
KEL 5.42 Increased By ▲ 0.27 (5.24%)
KOSM 7.68 Increased By ▲ 0.01 (0.13%)
MLCF 40.80 Increased By ▲ 1.00 (2.51%)
NBP 71.20 Decreased By ▼ -1.12 (-1.55%)
OGDC 190.01 Increased By ▲ 1.72 (0.91%)
PAEL 25.65 Increased By ▲ 0.02 (0.08%)
PIBTL 7.48 Increased By ▲ 0.11 (1.49%)
PPL 155.78 Increased By ▲ 3.11 (2.04%)
PRL 25.65 Increased By ▲ 0.26 (1.02%)
PTC 18.19 Increased By ▲ 0.49 (2.77%)
SEARL 83.70 Increased By ▲ 1.28 (1.55%)
TELE 7.69 Increased By ▲ 0.10 (1.32%)
TOMCL 32.98 Increased By ▲ 0.41 (1.26%)
TPLP 8.40 Decreased By ▼ -0.02 (-0.24%)
TREET 16.75 Decreased By ▼ -0.03 (-0.18%)
TRG 56.55 Increased By ▲ 0.51 (0.91%)
UNITY 28.82 Increased By ▲ 0.04 (0.14%)
WTL 1.36 Increased By ▲ 0.01 (0.74%)
BR100 10,800 Increased By 141 (1.32%)
BR30 31,845 Increased By 513.6 (1.64%)
KSE100 99,961 Increased By 691.7 (0.7%)
KSE30 31,198 Increased By 165.4 (0.53%)

US stocks rose on Friday after two days of sharp losses as investors scooped up beaten-down shares, including energy and technology, and brushed aside signs of a worsening economy. Although a government report showed US employers cut payrolls by 240,000 in October, much more severely than expected, analysts said the market had already taken into account the bad news.
The US unemployment rate jumped in October to 6.5 percent, the highest since March 1994. General Motors and Ford both posted wider-than-expected quarterly losses. GM said liquidity will fall short of the minimum needed to run its business by the first half of next year without new funding or other drastic action.
But investors were still tempted into the market by stocks that remain at multi-year lows and were encouraged that President-elect Barack Obama was meeting with top economic and business advisers on Friday, underscoring the urgency he attaches to the economy's problems.
The Dow Jones industrial average gained 184.46 points, or 2.12 percent, to 8,880.25. The Standard & Poor's 500 Index rose 19.59 points, or 2.16 percent, to 924.47. The Nasdaq Composite Index added 32.06 points, or 1.99 percent, to 1,640.76.

Copyright Reuters, 2008

Comments

Comments are closed.