Stocks extended their gains for a second day in a row with all major indices closing up, though below a one percent gain.
The Dow finished the session at 9,398, up 37 points; the Nasdaq closed today at 2,009, up 11 points; and the S&P 500 finished at 1,012, up 7 points.
The Russell 2000 index, a composite of the leading small-cap stocks, closed at 575, up 4 points.
Small-cap price movers were lead by Kodiak Oil , up 30%. Following KOG were Dot Hill Systems , up 22%; Pacer International , up 16%; BioSante Pharmaceuticals , up 16%; and ACADIA Pharmaceuticals , up 16%.
Last week's better-than-expected payroll data is being offset by new jobless claims today. 558,000 people filed new claims for unemployment benefits. That was more than the median estimate of 545,000.
The number of people collecting unemployment fell by 141,000 and that lowers the unemployment rate. That sounds good, but I don't think it is. Most likely, benefits for these 141,000 have run out. So what little money they had coming in is now gone and they've just stopped asking.
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