Stocks Shake Off Jobs Report To End With Big Gains

By: By TIM PARADIS AP Business Writer
By: By TIM PARADIS AP Business Writer
Wall Street has put an upbeat spin on the government

(AP Photo/Mary Altaffer)

NEW YORK (AP) - Wall Street has put an upbeat spin on the government's report that the nation lost more than half a million jobs last month. Stocks reversed early losses to finish sharply higher as the job numbers raise hopes that Washington will again step in to help the economy.

The Dow Jones industrial average traded in a 568-point range Friday before closing up 259 at 8,635. Investors have moved past initial shock over the Labor Department's report that employers slashed 533,000 jobs in November and put the numbers in perspective. A weak reading on employment ultimately wasn't surprising to a market growing accustomed to bad news.

All the major indexes are up more than 3 percent.

(Copyright 2008 by The Associated Press. All Rights Reserved.)

AP-NY-12-05-08 1610EST


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