With job news boost, it's a winning week for stocks

The stock market had its first winning week in a month thanks to better news on the economy.

The Dow Jones industrial average jumped 128 points Friday, its fourth straight day of gains. The strong start to September marked a turnaround from a dismal performance in August.

A better-than-expected report on employment Friday was the latest piece of improving news. Stocks gained earlier this week following signs that manufacturing was gaining in the United States and China.

The Dow closed up 127.83, or 1.2 percent, at 10,447.93. The Standard & Poor's 500 Index rose 14.41, or 1.3 percent, to 1,104.51, while the Nasdaq composite index rose 33.74, or 1.5 percent, to 2,233.75.

Meanwhile, the Institute for Supply Management said the services sector continued to expand in August, but growth slowed sharply from the previous month and more than economists predicted.

The ISM said its service-sector index fell to 51.5 last month from 54.3 in July. Economists had expected a higher reading of 53.5. Though levels above 50 signal growth, the August reading is the lowest since January.

The services sector, which accounts for 80 percent of jobs in the country, has not recovered as strongly as manufacturing.

- AP