Cisco forecast, economic data send market up

Posted Thursday, Nov. 05, 2009 Comments   (0) Print Share Share Reprints
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NEW YORK — A bright forecast from Cisco Systems and upbeat economic news sent stocks soaring Thursday and propelled the Dow Jones industrials back above 10,000. The rally, a day before the government’s October employment report, showed that investors are regaining their optimism about an economic recovery.

The reports gave investors a shot of optimism about the monthly report on employment today, which will steer trading because of the ties between joblessness and consumer spending.

"The news coming in has been for the most part better than expected," said Mike Boyle, senior vice president and portfolio manager at Advisors Asset Management.

On the Big Board: Rising issues outpaced decliners by about 9-to-2 on consolidated volume of 4.93 billion shares, down from 5.65 billion Wednesday. — The Associated Press

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