The Clinton Herald, Clinton, Iowa

October 23, 2013

Tepid employment data stokes stimulus hopes

STEVE ROTHWELL AP Markets Writer
The Clinton Herald

---- — NEW YORK (AP) — The prospect of more economic stimulus from the Federal Reserve pushed the Standard & Poor’s 500 index to a fourth consecutive record close Tuesday.

Investors also were encouraged by strong earnings from major U.S. companies such as Whirlpool, Delta Air Lines and Kimberly-Clark.

The U.S. economy added 148,000 jobs in September, the Labor Department reported Tuesday, lower than the 180,000 jobs forecast. The report was delayed for 2 ½ weeks because of a 16-day partial government shutdown.

Analysts are also expecting the upcoming jobs report for October to be weak because the shutdown may have dampened hiring.

The Fed has been buying $85 billion of bonds a month to keep long-term interest rates low.