Comtex SmarTrend Market Close Wrap-up -- March 5, 2010 (DJI,INX,IXIC)
Last updated March 5, 2010: 4:15 PM ET --- The major U.S. equity indices closed higher Friday as February's non-farm employment numbers showed a loss of 36,000 jobs in the month versus expectations for a loss of 50,000 jobs in a Reuters survey. The unemployment rate remained unchanged at 9.7%, although the impact of severe winter weather on the figures was unclear. In corporate news, General Electric (NYSE:GE) said Chairman and CEO Jeffrey Immelt had declined a bonus for the second straight year. Diversified manufacturer 3M (NYSE:MMM) closed 1.7% higher to $82.44 after the jobs data showed the manufacturing sector added 1,000 jobs in February. HP (NYSE:HPQ) revised its fiscal Q1 results following developments in litigation involving Electronic Data Systems Corporation (EDS), a company that HP acquired in August 2008. Revenues for the quarter were revised to $2.59 billion, with EPS of $1.07 - down from the previously reported revenues of $2.67 billion and EPS of $1.10. The Dow Jones Industrial Average (DJI) closed 1.17% higher at 10,566.12, the S&P500 (INX) closed 1.4% higher at 1,138.69, and the Nasdaq Composite (IXIC) closed 1.48% higher at 2,326.35.
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