Stocks finished higher on Friday, with the Dow Jones industrial average crossing 11,000 for the first time in five months, after a sharp drop in the overall U.S. jobs figure in September increased chances of stimulus measures from the Federal Reserve (Fed). With unemployment remaining one of the defining measures of the economic recovery, the Labor Department's monthly job report was another sign that the recovery remained weak. The U.S. economy lost 95,000 jobs in September, the government said, although the private sector added 64,000 jobs. The unemployment rate remained unchanged at 9.6 percent. Investors expect the market to continue moving higher as speculation about Fed action continues. Stocks could also make gains if third-quarter financial results come out stronger than expected. In company news, Bank of America was down 1 percent earlier Friday, after the bank announced it is suspending foreclosures in all 50 states. Last week, the bank froze foreclosures in the 23 states where a court's approval is required to foreclosure on a home. French drug maker Sanofi-Aventis said that it will cut 1,700 jobs in the United States before the end of the year. The company's stocks finished slightly higher on Friday. The U.S. dollar gained slightly against the euro and fell against the yen. Light sweet crude oil for November delivery rose 98 cents to $82.65 per barrel. Gold futures rose $10.13 to $1,345.30 an ounce. The Dow Jones industrial average rose 57.9, or 0.5 percent, to 11,006.48. Gains were led by Alcoa and Caterpillar. Shares of Alcoa rose nearly 6 percent as investors welcomed strong profits from the aluminum giant. The broader Standard & Poor's 500 index rose 7.09, or 0.6 percent, to 1,165.15. The technology-heavy Nasdaq composite index rose 18.24, or 0.8 percent, to 2,401.91.
