Stocks Rally on Labor Report
Stocks bounded higher today, giving the Dow industrials their best week since July, after the government delivered a sign that the Federal Reserve's interest rate increases might finally be slowing the economy.</br></br>The rally was sparked by a Labor Department report that showed some easing of the tight labor market.</br></br>The Dow Jones industrial average rose 202.28, to 10,367.20. For the week, the blue-chip index rose 505.08 points, its best performance since the week ended July 2, 1999, when it rose 586.68.</br></br>The Nasdaq composite index, meanwhile, surpassed 4900 for the first time and closed at a new high. The index rose 160.28 to 4914.79, well above the previous record of 4784.08, set Wednesday.</br></br>The Russell 2000 index of smaller companies rose 13.84, to 597.88, a new record. The broader Standard & Poor's 500-stock index rose 27.41, to 1409.17.