NEW YORK (AP) — Not great, but good enough: U.S. stocks rose Friday as investors viewed a relatively weak jobs report for August as likely to help keep interest rates low.
That was a bit less than analysts expected, but investors were pleased that the economy kept growing at a steady pace while inflation remains weak.
Wall Street expects them to get a boost as Gulf Coast residents replace the hundreds of thousands of cars that have been damaged by rains and flooding this week.
The pattern of slow but steady job gains and weak inflation has helped push stocks higher for years.
"The market is looking at economic news that is below expectations as a sign that the Federal Reserve is not going to do much in terms of interest rate hikes," said Scott Wren, senior global equity strategist for Wells Fargo Investment Institute.
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