Stocks Jump 400+ on Trio of Good News

Central banks and China make moves, private-sector employment jumps
By Kate Seamons,  Newser Staff
Posted Nov 30, 2011 8:59 AM CST
Stocks Jump 400+ on Trio of Good News
Traders work on the floor of the New York Stock Exchange.   (Getty Images)

The market took a major jump at open on the announcement that six central banks were moving to make it easier for European banks to get dollars, with the Dow rising 322 points to 11,877, reports the Wall Street Journal. As of 9:55am, it was up 405 points. The S&P 500 and Nasdaq rose as well, 32 and 69 points, respectively. The central banks' announcement was just one part of a trio of good economic news items, reports the Journal.

China today reduced bank reserve levels, a move that will release money for lending and help shore up slowing growth in the world's second-largest economy, reports the AP. And stateside, there was encouraging jobs news: Private-sector employment increased by 206,000 jobs last month, its biggest rise since December 2010, reports MarketWatch. (More Dow Jones stories.)

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