Hope Springs Eternal as Most Indices End Higher

SAN FRANCISCO -- A peculiar session on Wall Street ended with major stock proxies higher, completing the market's best week since the one ended Aug. 20. Today's performance left traders optimistic, despite the bond market's tepid response to a benign employment report.

Major Indices INDEX CHANGE % VALUE YR TO DATE Dow 112.71 +1.1% 10,649.76 +16% S&P 500 18.38 +1.4% 1336.02 +8.7% Nasdaq 25.89 +0.9% 2886.59 +31.6% Russell 2000 0.40 -0.1% 427.71 +1.4% TSC Internet 9.57 +1.3% 732.79 +80.4% BOND CHANGE PRICE YIELD 30-Year Treasury 7/32 99 1/32 6.198%

The Labor Department reported payrolls declined by 8,000 in September vs. estimates for a gain of 218,000. Excluding the effects of Hurricane Floyd, the department said, new jobs would have risen only 50,000. However, the 0.5% gain in hourly wages was 0.2% higher than expected. The unemployment rate was unchanged at 4.2%. ...