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WALL STREET: Major indexes increase 3 percent for week

THE OLYMPIAN | • Published November 07, 2009

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Investors undaunted by a surprisingly weak jobs report found enough positive news to nudge stocks higher.

News that the nation’s unemployment rate rose above 10 percent last month for the first time in 26 years didn’t derail the stock market’s strong gains in the week, which lifted major indexes more than 3 percent.

The rise in joblessness to 10.2 percent in October, while bad news for the economy, reassured some investors that the Federal Reserve will have to hold interest rates low for some time.

The Associated Press