US Stocks Rise; Knight Capital Gets Lifeline

By: Associated Press
By: Associated Press

NEW YORK (AP) -- Wall Street is sending U.S. stocks higher, in a continued positive reaction to the jobs numbers released on Friday.

Also today, Knight Capital Group, fighting for survival after a disastrous software glitch sent trading haywire last week, said it has lined up $400 million in financing that will allow the firm to continue operations. And the founder of Best Buy has offered to buy the company.

With no new economic indicators being released today, the more upbeat jobs figures released Friday continued to dominate trading.

The U.S. economy generated 163,000 jobs last month at the fastest pace since February, a sign it is resilient enough to pull out of a midyear slump and grow modestly even as the rest of the world slows down. Investors have been driving the markets higher on hopes that the positive momentum will continue.

(Copyright 2012 by The Associated Press. All Rights Reserved.)

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