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Disappointing jobs news doesn’t hold back markets
CommentsInvestors undaunted by a surprisingly weak jobs report found enough positive news to nudge stocks higher.
News that the nation’s unemployment rate rose above 10 percent last month for the first time in 26 years didn’t derail the stock market’s strong gains in the week, which lifted major indexes more than 3 percent.
The rise in joblessness to 10.2 percent in October, while bad news for the economy, reassured some investors that the Federal Reserve will have to hold interest rates low for some time.
News Tribune news services
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We welcome comments. Please keep them civil, short and to the point. ALL CAPS, spam, obscene, profane, abusive and off topic comments will be deleted. Repeat offenders will be blocked. Thanks for taking part — and abiding by these simple rules. A thorough explanation of rules of conduct can be found in our Terms of Service.
Comments are displayed newest first. If you would like to read a thread from beginning to end, select "Oldest first" from the drop down menu.
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