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Stock market gets a boost from good jobs news

Source : AP
Last Updated: Thu, Nov 01, 2012 13:45 hrs

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Payroll provider ADP said Thursday that U.S. businesses added 158,000 jobs in October, and the Labor Department reported that applications for unemployment benefits dropped 9,000 to 363,000 last week. That's a level that suggests employers are starting to hire workers again.

The Dow Jones industrial average rose 72 points to 13,168 shortly after the opening bell.

The Standard & Poor's 500 index rose five points to 1,418 and the Nasdaq composite rose 14 points to 2,991.

Kellogg's stock rose 1 percent after reporting that its income edged up in the third quarter. The company said it's benefiting from its acquisition of Pringles chips earlier this year.




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