Today's Market: Stocks Close Solidly Higher as Rally Trumps Weak Jobs Data

The month-old bull came face-to-face with its first big challenge today, and it held up well. The onward-and-upward charge of technology and blue-chip stocks was undeterred by a weak employment report .

The Dow Jones Industrial Average recovered with a vengeance from a 123-point decline early in the session on the weak jobs data, finishing up 154.59 points, or 1.43%, to 10,951.24. The Nasdaq Composite -- which also tumbled early on -- surged 45.3 points, or 2.11%, to close at 2191.50. The S&P 500 finished the session up 18.03, or 1.44%, to 1266.61. All three indices closed near session highs.

"Today's rally shows that the market is extremely resilient at this point," said Scott Curtis, a trader at Kaufman Bros. "Bad news is not as bad as it seems."

Major Indices INDEX CHANGE % VALUE Dow 154.59 1.43% 10,951.24 S&P 500 18.01 1.44% 1266.59 Nasdaq 45.46 2.12% 2191.66 Russell 2000 7.24 1.49% 492.89 TSC Internet 8.49 3.06% 286.00 NOTE CHANGE PRICE YIELD 10-Year Treasury 3/32 98 14/32 5.203% Market data as of: 4:22 PM ET, Fri May 4 2001

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