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The Boston Globe

Business

Stocks edge higher as job market improves

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Engines driving the market were tepid, not turbocharged, but strong enough to help stocks rise a fifth straight day. Better job-market news and healthy corporate profits encouraged investors. Still, hiring is sluggish, and the S&P 500’s five-day advance is no blockbuster: It rose just .01 point on Wednesday. Most companies are turning in profits that beat estimates, but many are missing revenue forecasts. Some investors say the gains have more to do with the belief central banks worldwide will continue to keep interest rates low and buy bonds. “It’s more just stimulus, stimulus, stimulus,’’ said Street One Financial’s Scott Freeze.

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