YAHOO [BRIEFING.COM]: Stocks finished the week at their best levels since May as participants regarded disappointing jobs data as fodder for further quantitative easing. Trading volume remained unimpressive, though.

Premarket traders were initially disappointed by news that September nonfarm payrolls fell by 95,000 and private payrolls increased by 64,00, given that the consensus had called for no net change to nonfarm payrolls while private payrolls had been expected to increase by 74,000. However, displeasure was discharged by the realization that most of the drop in nonfarm payrolls was due to government layoffs and that weak economic data could support further quantitative easing.

The latter point caused the dollar to drop from an early gain into the red. Though it fought for a bit, the greenback ultimately succumbed to selling efforts so that it spent the afternoon in negative territory. It settled with a 0.2% loss against competing currencies. The yen made one of the best moves against the greenback to hit a new 15-year high. The yen settled the session with a 0.4% gain and is now up more than 13% for the year.

With the dollar's weakness confirmed, stocks were able to stage a strong gain that took the Dow back above 11,000 for the first time in about five months. The broader S&P 500 also hit its highest level in about five months.

Materials stocks were the best overall performers. The sector's 2.0% gain was led by Dow component Alcoa (AA 12.89, +0.69), which ripped higher through its 200-day moving average with help from better-than-expected earnings and a general support for commodities-related plays.

Commodities were spurred sharply higher amid the dollar's decline. Specifically, the CRB Commodity Index spiked 2.7% to a near two-year high.

An overall positive tone to trade took the Volatility Index down to its lowest level in five months. It pulled up a bit from that mark, but still settled about 4% lower for the session.

Despite the significance of today's headlines, many investors remained on the sidelines. In turn, share volume on the NYSE failed, once again, to meet the 50-day moving average of 1 billion shares. Three months ago the 50-day average was at 1.5 billion.

Broad strength among commodities helped the CRB Commodity Index spike 2.7% for its strongest single-session surge in about 11 months. The move took the CRB to its highest level in close to two years.

Among the more widely watched commodities, oil prices climbed 1.2% to $82.63 per barrel after some early weakness. Meanwhile, natural gas prices finished 1.0% higher at $3.65 per MMBtu.

Precious metals couldn't quite make it back to the highs of the prior session. Still, gold gained 0.8% to finish pit trade at $1345.50 per ounce and silver settled 1.2% higher at $23.16 per ounce.

Advancing Sectors: Materials (+2.0%), Energy (+1.1%), Consumer Discretionary (+1.1%), Industrials (+0.8%), Tech (+0.7%), Utilities (+0.3%), Health Care (+0.3%), Consumer Staples (+0.2%), Financials (+0.1%)
Declining Sectors: Telecom (-0.3%)DJ30 +57.90 NASDAQ +18.24 NQ100 +0.8% R2K +1.4% SP400 +0.7% SP500 +7.09 NASDAQ Adv/Vol/Dec 1887/2.01 bln/736 NYSE Adv/Vol/Dec 2207/945 mln/748