Business News - Markets up despite unemployment news

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Markets up despite unemployment news

NEW YORK (UPI) -- U.S. markets edged up Friday morning, despite news the unemployment rate rose to 10.2 percent.

The Labor Department said 190,000 jobs were lost in October, pushing the unemployment rate up 0.4 percentage points from the previous month's 9.8 percent.

After a 203 point gain Thursday, the Dow Jones industrial average in midmorning trading added 12.02 points, 0.12 percent, to 10,017.98. The Standard & Poor's 500 rose 0.21 percent, 2.29 points, to 1,068.92. The Nasdaq composite index gained 0.23 percent, 4.78 points, to 2,110.10.

The benchmark 10-year U.S. Treasury lost 2/32 to yield 3.535.

The euro rose to $1.4885 from Thursday's $1.4877. Against the yen, the dollar fell to 89.96 yen from Thursday's 90.77 yen.

In Japan, the Nikkei 225 index rose 0.74 percent, 71.91, to 9,789.35.

Copyright 2009 by United Press International

This news arrived on: 11/06/2009

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