U.S. Stocks Extend Record on Economy, Corporate Results Optimism

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U.S. stocks advanced, after the Standard & Poors 500 Index posted a third weekly gain, as investors watched corporate results and speculated the economy is strong enough to withstand a global slowdown.

The S&P 500 rose 0.2 percent to 2,036.01 at 12:28 p.m. in New York, extending an all-time high. The Dow Jones Industrial Average climbed 20.07 points, or 0.1 percent, to 17,594, poised for a record close. Trading in S&P 500 stocks was 6 percent above the 30-day average at this time of day.

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.

Source : Bloomberg