Investors are poised to start next week eager for plans from the government to boost the economy and rescue the financial system, which could help bulls cement a nascent February rally in stocks.
Hopes that the market has already priced in much of a dismal outlook for the economy this year were also evident Friday, as stocks rallied past news that January saw the biggest loss of jobs since 1974.
"The market is possibly looking at what we see today and thinking that we can't get much worse than that," said Paul Nolte, director of investments at Hinsdale's Associates. "It's not yet expecting that things will get better, but at least not much worse."
On Friday, the Dow Jones Industrial Average (DJI) jumped 217 points, or 2.7%, to end at 8,280. The S&P 500 index (SPX) gained 22 points, or 2.7%, to 868, while the Nasdaq Composite (RIXF) rallied 45 points, or 2.9%, to 1,591.
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