Stocks mostly rise as investors snap up financials

Fri Aug 29, 2008 4:08 PM EDT

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Tim Paradis, AP Business Writer

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Stocks have ended an erratic session mostly higher, recovering from steep losses that followed a worrisome reading on the nation's job market. After an early selloff, investors began looking for bargains in sectors like financials and consumer staples.

Wall Street initially fell after the Labor Department reported that payrolls shrank more than predicted last month and that the unemployment rate reached a five-year high. But stocks that have been pounded lower, including a huge drop on Thursday, were suddenly more attractive to investors willing to make some bets.

The Dow Jones industrials are ending up 32 at the 11,220 level, while the Nasdaq composite index is off 3 at the 2,255 level.

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{"commentId":2646340,"authorDomain":"eriktheread"}

Erik the Read

How do they do it? I mean, what are the mechanism behind bringing wages down? I suppose this figure is not adjusted for inflation, or they would have said, right?

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#1 - Fri Aug 29, 2008 4:31 PM EDT

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Stocks fall after personal income data; oil rises	Associated Press	Fri Aug 29
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Stocks mostly rise as investors snap up financials

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