Stocks Rise After New Jobs Report

03/28/2008 02:45 am ET | Updated May 25, 2011

Stocks rose moderately Thursday after a report of an increase in new jobs during December eased some concerns about the economy a day before the Labor Department's key reading on employment.

Investors who sent stocks skidding Wednesday on economic concerns took some solace from the findings of payroll company Automatic Data Processing that showed the economy added 40,000 private sector jobs last month, above the 30,000 forecast of economists polled by Dow Jones Newswires.

In addition, the number of newly laid off workers seeking unemployment benefits fell sharply last week, the Labor Department said. The report was upbeat, but investors were also mindful that these weekly readings can be volatile, and the latest reflected unusual factors related to the Christmas holiday.