Stocks rise on Wall Street, despite dismal jobs report

By Damian J. Troise Associated Press

NEW YORK — Stocks were moving higher in afternoon trading on Friday, despite the fact that Wall Street got a dismal jobs report for January that showed the U.S. economy remaining in dire straits due to the pandemic.

Investors continue to hope that more help for the economy is on the way from Washington. Overnight the Senate narrowly passed a measure that will fast-track aid.

The S&P 500 index was up 0.4% as of 12:05 p.m. Eastern. It’s on track for a weekly gain of more than 4%, which would be its biggest since November. The Dow Jones Industrial Average rose, 96 points,

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