Manufacturing growth tends to signal higher corporate earnings, said Doug Cote, chief market strategist at ING Investment Management. U.S. companies are midway through reporting their third-quarter earnings, which have been relatively weak. If factories keep boosting their output, Cote said, earnings are more likely to bounce back this quarter."What you want to see is advancing corporate profits, broad manufacturing growth and strong consumer spending," Cote said. Cote said those factors set the tone for the market.
Stock Market Gets A Boost From Good Jobs News
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