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A big rally on wall street

Updated: Thursday, 05 Nov 2009, 11:55 PM EST
Published : Thursday, 05 Nov 2009, 6:46 PM EST

(WWLP) - A day of triple digit gains for the big board, with the Blue Chips tacking on about 2%.

The Dow added 204 points, and the NASDAQ added 48 points.

Shoppers spent a bit more at retail stores last month.

The result was the second straight monthly sales gain, after more than a year of decline.

Retail sales rose more than two percent, which was the industry's strongest performance since July 2008.

Also, the number of newly laid-off workers filing for unemployment benefits dropped last week.

It fell to the lowest level in 10 months, with first-time claims for jobless benefits dropping by 20,000 last week.

Meantime, companies are finding ways to do more with fewer workers.

Employers are becoming more efficient with their leaner workforces, but wages are slipping, or staying flat.

The result is that worker productivity jumped at the fastest pace in six years.
 

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