Tuesday’s Midday Movers: 3 Stories Driving Markets
The major U.S. stocks were rising Tuesday, following a weak jobs report and new confidence that the Federal Reserve will maintain its stimulus program. As of 12 p.m.:
|DIJA: +0.43% to 15458.61||S&P 500: +0.51% to 1753.56||NASDAQ: +0.24% to 3369.15|
|Gold: +4.47% to 75.95||Oil: -0.42% to 23.49||U.S. 10-Year: -3.33% to 25.22|
Here are three stories helping shape the market Tuesday afternoon:
1. Unemployment Rate Finally Drops for the Right Reason: Federal Reserve policymakers and watchers of U.S. economic health finally know how the labor market fared in September. The Department of Labor’s most recent Employment Situation Report, originally scheduled for release on October 4 but postponed thanks to the partial shutdown of the federal government, showed an economy growing at a sluggish rate.
Even before the political crisis over government spending, the Affordable Care Act, and the debt ceiling began on October 1, businesses had been slow to hire throughout September, which has only added to Americans’ concerns about the strength of the U.S. economy.