U.S. stocks advanced, with the Standard & Poors 500 Index extending an all-time high, as investors watched corporate results and speculated the economy is strong enough to withstand a global slowdown.
The S&P 500 rose 0.3 percent to 2,038.23 at 4 p.m. in New York. The Dow Jones Industrial Average climbed 39.72 points, or 0.2 percent, to 17,613.65, poised for a record close.
U.S. companies added 230,000 workers to payrolls in October, ADP Research Institute reported last week. The jobless rate unexpectedly fell to a six-year low, even as more people entered the labor forcer. Earlier this month, The Bloomberg Consumer Comfort Index climbed to the second-highest level since 2008, as West Texas Intermediate crude oil fell to below $80 for the first time since 2009.
The S&P 500 has rebounded 9.4 percent from a six-month low on Oct. 15 amid better-than-estimated corporate results and economic data indicating the economy is strong enough to overcome any effects from a global slowdown and the end of Federal Reserve bond buying. The index rose 0.7 percent last week for a third straight gain and closed Nov. 7 at a record.
Source : Bloomberg