LITTLE ROCK, Ark. (Arkansas Business) -- The prospect of more economic stimulus from the Federal Reserve pushed the Standard & Poor's 500 index to a fourth consecutive record close Tuesday.
Investors were also encouraged by strong earnings from major U.S. companies such as Whirlpool, Delta Air Lines, and Kimberly-Clark.
But the big signal for investors came after the Labor Department reported the latest jobs numbers for September. The report shows that the U.S. economy added 148,000 jobs last month -- which was lower than the 180,000 jobs forecast.
Analysts are also expecting the upcoming jobs report for October to be weak because the partial government shutdown might have dampened hiring.
All that leaves investors to believe that the economy will struggle to grow quickly -- and that means the Federal Reserve is unlikely to stop its stimulus effort anytime soon.
Those efforts, and the low interest rates they cause, have been fueling the rise of the stock market.
ACS breaks ground on new facility in NLR
Advanced Cabling Systems, which designs and installs voice, data, fiber optic and network cabling systems, broke ground yesterday on a 6,100-SF facility next to its company headquarters in the Northshore Business Park in North Little Rock.
The new facility will house the company's corporate resources division as well as IT and engineering support.
It will also allow ACS to add between 20-25 new technology jobs in 2014. The new facility is scheduled to open in February.
Advanced Cabling has 125 employees in offices in Arkansas and Oklahoma.
Bill offers tax break to consignment sales
A bill introduced by U.S. Rep. Tim Griffin Tuesday would exempt children's consignment sales from certain federal labor regulations.
The government wants the pop-up businesses to pay at least minimum wage to workers. Some children's consignment sales give early access to the merchandise as compensation for people who work the sales.
Rhea Lana Riner, founder of Rhea Lana's Franchise Systems Inc., a business that runs consignment sales, said the legislation is necessary.
She says the sales make affordable clothing available to families and that Labor Department regulations are too burdensome.
Griffin's bill would exempt children's consignment events from regulations under the Fair Labor Standards Act.