Stocks fall upon jobless report

NEW YORK: Investors unnerved by a larger-than-expected jump in unemployment sent stocks lower Thursday, taking profits from Wall Street’s two days of rallies. But news of surprisingly strong growth in the nation’s service sector helped offset the losses. 

While economic data have been turning more positive, disappointments like the jobless rate cause investors to question whether stock prices, earnings and the economy will recover in the second half of 2003. But so far the sell-offs haven’t been steep or long lasting, which analysts say points to investors’ growing optimism in the market.