The nation was focused on a tropical storm spinning off the Carolinas and a hurricane headed for Florida. People were gaming out how a political novice named Sarah Palin might upend the presidential campaign.

The unemployment rate jumped almost half a point to 9.7 percent in August, the highest since 1983, reflecting a poor job market that will make it hard for the economy to begin a sustained recovery.

The following stocks were among those that moved substantially or traded heavily Friday on the New York Stock Exchange and Nasdaq Stock Market:

U.S. stocks closed higher on Friday as investors focused on the bright side of a mixed payrolls report that showed smaller-than-expected job cuts in August, although the unemployment rate hit a 26-year high.

MONDAY, Sept. 7 Labor Day. Markets closed. TUESDAY, Sept. 8 WASHINGTON — Federal Reserve releases consumer credit data for July, 3 p.m.; Agriculture Secretary Tom Vilsack and Food and Drug Administration Commissioner Margaret Hamburg speak at a food policy conference.

Improving gaming results in Asia led an analyst to boost the price targets of casino operators Wynn Resorts Ltd. and Las Vegas Sands Corp. on Friday.

Shares of Bridgepoint Education Inc. dropped Friday, a day after the company said it expects a federal audit to result in proposed fines and “corrective action.”

Shares of contact lens maker Cooper Cos. fell Friday after the company’s fiscal third quarter profit fell far short of Wall Street estimates, and it pared its full-year profit and revenue forecasts.

Shares of Quiksilver Inc. dropped 18 percent on Friday, a day after the clothing and sporting goods maker said its fiscal third-quarter profit fell by more than half on weak sales.

Shares of ConAgra Foods Inc. set a 52-week high on Friday as an analyst raised his estimates for the maker of Chef Boyardee and Hebrew National, citing strong momentum amid the recession as consumers eat more at home.