CLOSING UPDATE: S&P Breaks New Record on Rally Triggered By Bearish Non-Farm Payrolls

By Staff,

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Stocks rallied Tuesday, with the S&P 500 hitting another record high after a sluggish September jobs report provided the Fed with ammunition to maintain its accommodative monetary policy and delay a possible bond-buying taper until 2014. Non-farm payrolls rose by a less-than-expected 148,000, pushing the monthly average down to 143,000 new jobs. Amplified by upbeat earnings and weak energy prices, the early rally drove the Dow to a one-month high before stalling out with a smaller gain.

Here's where the markets stood at the close:


Dow Jones Industrial Index was up 75, or 0.5%, at 15,467

S&P 500 was up 10, or 0.6%, at 1,754

Nasdaq Composite Index was up 9.5, or 0.2%, at 3,929


FTSE 100 was up 0.62%

Nikkei 225 was up 0.13%

Hang Seng Index was down 0.52%

Shanghai China Composite Index was down 0.83%


OXBT Announced a deal to acquire certain assets of Phyxius Pharma, a privately held biopharmaceutical company, for about $4.8 million in stock.

SYMM Reported fiscal first-quarter earnings in line with analysts' estimates and said it agreed to be acquired by Microsemi Corp. ( MSCC ) for about $230 million.

RIG Transocean will replace Dell ( DELL ) on the S&P 500 index after the market close on Monday, Oct. 28.


FST Downgraded to Underweight from Equalweight by analysts at Morgan Stanley.

BNNY Adjusted 2014 earnings at the lower end of its range of $0.97 to $1.01 per share.

NFLX Early gains compromised after S&P downgrades the stock despite upbeat earnings

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Copyright (C) 2014 All rights reserved. Unauthorized reproduction is strictly prohibited.

This article appears in: Investing Commodities
Referenced Stocks: DELL , MSCC

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