Thursday

Stocks rallied today to their highest level since September 2008 as investors applauded the Federal Reserve's latest effort to stimulate the struggling economy. Financials were the S&P 500's biggest gaining sector after The Wall Street Journal reported the Federal Reserve is expected soon to start allowing healthy banks with strong capital levels to increase their dividend payments. On the employment front, initial jobless claims jumped back above the 450,000 level, suggesting continued weakness in the labor market. But U.S. productivity bounced back in the third quarter, rising at a 1.9% annual rate, exceeding economists' expectations. DJIA +219.71 Nasdaq +37.07 S&P 500 +23.10.