Investing.com - " U.S. stocks rose on Tuesday after a weak
September jobs report fueled already growing expectations for the
Federal Reserve to continue stimulating the economy via monthly
bond purchases well into 2014.
At the close of U.S. trading, the Dow Jones Industrial Average
finished up 0.49%, the S&P 500 index rose 0.57%, while the
Nasdaq Composite index rose 0.24%.
Stocks advanced after the Department of Labor said the U.S. economy
added 148,000 jobs in September, well below expectations for an
increase of 180,000. The previous month's figure was revised up to
a gain of 193,000 from a previously reported increase of 169,000.
July's figure was revised down to 89,000 from 104,000.
The unemployment rate ticked down to a four-and-a-half year low of
7.2% from 7.3% in August due in part to more people dropping out of
the labor force, which also weighed on the greenback.
The disappointing data fueled expectations for the Federal Reserve
to continue stimulating the economy to boost job creation by buying
bonds each month.
The Fed is currently purchasing USD85 billion in Treasury holdings
and mortgage debt a month to boost the economy, a monetary policy
tool known as quantitative easing that drives down interest rates
to spur recovery and job creation, boosting stock prices in the
Fed officials have said they would pay close attention to economic
indicators before deciding on the fate of monetary stimulus
Market talk grew on Tuesday after the jobs report that the Fed
won't announce a start date to begin tapering asset purchase until
well into 2014, possibly as late as March or even June by some
Leading Dow Jones Industrial Average performers included Walt
Disney, up 2.06%, Procter & Gamble, up 1.80%, and Caterpillar,
The Dow Jones Industrial Average's worst performers included Cisco,
down 1.24%, Microsoft, down 1.19%, and United Technologies, down
European indices, meanwhile, finished higher.
After the close of European trade, the EURO STOXX 50 rose 0.47%,
France's CAC 40 rose 0.43%, while Germany's DAX 30 rose 0.90%.
Meanwhile, in the U.K. the FTSE 100 finished up 0.62%.
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