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The Boston Globe

Business

Snapshot: For Street, jobs data equal more stimulus

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Prospects for more stimulus from the Fed pushed the S&P 500 to a fourth consecutive record high. Strong profits at companies like Delta, Whirlpool, and Kimberly-Clark encouraged investors, too. The economy added just 148,000 jobs in September, the Labor Department said. Analysts also expect the October report to be weak. Without stronger job growth, the economy will struggle to grow — and that means the Fed is unlikely to stop its stimulus soon. Although growth has slowed, two-thirds of earnings reports have beat forecasts. ‘So far, the bottom line earnings are beating the reduced expectations,’ said Darrell Cronk, at Wells Fargo Private Bank.

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