U.S. stocks close higher after jobs report

NEW YORK (MarketWatch) -- U.S. stocks closed higher Friday, posting a weekly gain, as investors digested a slightly stronger-than-expected November jobs report, and with investors buying recently battered shares in the technology sector. The Dow Jones Industrial Average rose 29 points to close at 12,307. For the week, the blue-chips average rose 113 points, or 1%, marking its first weekly gain in three weeks.

Citigroup Inc. was the biggest gainer among blue chips Friday, advancing 2.3%. Acording to Richard Bove, analyst at Punk Ziegel & Co., the stock moved on rumors that the bank will announce the spin-off of large portions of its business next week and that Al de Molina, the departing chief financial officer of Bank of America Corp. , will replace Charles Prince as chief executive of Citigroup. Bove called both rumors "nutty".
read more?