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The Boston Globe

Business

Tepid jobs news barely dents stock market advance

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A tepid jobs report barely dented the stock market’s summer rally. The S&P 500 ended the week 1 percent higher, and the Dow is on a streak of six weekly gains. Following an early drop on news that the nation added 162,000 jobs in July — fewer than forecast — the market gradually recovered. Investors have been watching economic reports and trying to anticipate when the Fed will start easing back on its economic stimulus. Investors were also assessing company earnings. Chevron fell as profit fell 26 percent to $5.4 billion due to lower oil prices and maintenance work at refineries. And LinkedIn surged after results topped estimates.

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