Stocks close higher despite job report
NEW YORK — A disappointing jobs report couldn't stop the stock market from having a strong start to the new year.
Stocks zigzagged most of the day but closed higher yesterday as investors took in stride the Labor Department's news that employers cut 85,000 jobs in December, far more than the 8,000 analysts expected. The disappointing numbers were offset by a pleasant surprise: November's report was revised to show the first job gains in nearly two years.
All the major indexes posted advances for the week, a reassuring sign given that stocks often end the year higher after a strong start to January.