Skip to main content

The Journal Gazette

Tuesday, October 22, 2013 5:14 pm

News Summary: Stocks hit record on stimulus hopes

The Associated Press

RECORD STREAK: The Standard & Poor's 500 index closed at a record for a fourth straight day. A tepid employment report encouraged investors to speculate that the Federal Reserve would keep up its stimulus effort.

EARNINGS BOOST: Investors were also encouraged by strong earnings from major U.S. companies such as Whirlpool, Delta Air Lines and Kimberly-Clark.

REALITY CHECK: Netflix fell the most in a year, even after the company said that its earnings had quadrupled in the third quarter. Some analysts say that the stock's 248 percent gain this year is excessive given that the company faces a number of challenges, such as rising content costs and stiff competition.