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Good News On Oil, Jobs, And Chips Boost Markets

Stocks rose Friday as investors reacted positively to the government's jobs numbers, OPEC's promise to boost production, and Intel's revenue projections.
Stocks rallied Friday as Intel said its second-quarter revenue would be at the upper end of its forecast, oil prices fell, and the Labor Department reported surprisingly strong job creation in May.

The Dow Jones industrial average rose 47.26 points, or nearly 0.5%, to close the week at 10,243.17. The Nasdaq Composite Index rose 18.36 points, nearly 1% of its value, to close at 1,978.62. And the Standard and Poor's 500 rose 5.87 points, or 0.5%, to 1,122.51. For the week, the Dow rose 0.5% and the S&P 500 rose 0.2%, while the Nasdaq fell 0.41%.

The InformationWeek 100 index rose 4.19 points, or 1.34%, to 317.04. It fell 0.7% for the week. The Nasdaq-100 tracking stock rose 27 cents, or 0.8%, to $36.25. It fell 0.8% for the week.

The markets got a boost Friday as oil prices closed below $40 a barrel for the third straight day after OPEC agreed to raise output quotas. The government also reported that the U.S. economy added 248,000 jobs in May, surpassing Wall Street's expectation of 216,000. And Intel, the world's largest semiconductor maker, said after the bell Thursday that it expects revenue of $8 billion to $8.2 billion for the quarter ending June 26, fueled by better-than-expected sales of memory chips for cell phones. Intel's share price rose 94 cents, or 3.4%, to close at $28.35. IBM and Cisco Systems also posted gains after Intel's report.

See the full listing of all the companies in the InformationWeek 100 and the top 5 percentage winners and losers for the last closing at informationweek.com/stocks.

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