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Tepid US employment data stokes Fed stimulus hopes

US stocks rise as hiring slowdown is seen as keeping stimulus going; Delta, Whirlpool gain

Specialist Brian Egan, background center, works with traders at his post on the floor of the New York Stock Exchange Tuesday, Oct. 22, 2013. Stocks ga...
Todd Ingrilli, center, works with fellow traders on the floor of the New York Stock Exchange Tuesday, Oct. 22, 2013. Stocks gained in early trading Tu...
Trader Richard Cohen, center, works on the floor of the New York Stock Exchange Tuesday, Oct. 22, 2013. Stocks gained in early trading Tuesday as inve...
Traders Gregory Rowe, left, and Michael Smyth, center, work on the floor of the New York Stock Exchange Tuesday, Oct. 22, 2013. Stocks gained in early...

Wall Street

Specialist Brian Egan, background center, works with traders at his post on the floor of the New York Stock Exchange Tuesday, Oct. 22, 2013. Stocks ga...

Wall Street

Todd Ingrilli, center, works with fellow traders on the floor of the New York Stock Exchange Tuesday, Oct. 22, 2013. Stocks gained in early trading Tu...

Wall Street

Trader Richard Cohen, center, works on the floor of the New York Stock Exchange Tuesday, Oct. 22, 2013. Stocks gained in early trading Tuesday as inve...

Wall Street

Traders Gregory Rowe, left, and Michael Smyth, center, work on the floor of the New York Stock Exchange Tuesday, Oct. 22, 2013. Stocks gained in early...

NEW YORK (AP) -- The prospect of more economic stimulus from the Federal Reserve because of a slowdown in hiring last month is pushing the Standard & Poor's 500 index further into record territory.

Whirlpool, Delta Air Lines and Kimberly-Clark rose sharply after reporting higher earnings.

The S&P 500 was up six points, or 0.4 percent, to 1,750 as of noon (1600 GMT) Tuesday.

The Dow Jones industrial average was up 53 points, or 0.3 percent, at 15,445. The Nasdaq composite was up three points, or 0.1 percent, at 3,923.

Bond yields fell after the government reported that hiring slowed in September. The report suggested the Federal Reserve may keep up its huge bond-buying program for some time.

The yield on the 10-year Treasury note fell to 2.53 percent from 2.60 percent.


Updated : 2021-06-21 13:00 GMT+08:00