The Dow Jones Industrial Average hit a level less than 4% below its pre-2008 high, while the S&P 500 was roughly 6.5% away from achieving the same target. Encouraging manufacturing and employment data helped boost stock market indexes. The unemployment rate fell to 7.8% in September, its lowest level since January 2009, and manufacturing showed growth after three months of decline over the summer. However, factory orders declined 5.2% in August due to a drop in transportation equipment orders.