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NEW YORK (CNNMoney)
The Dow Jones industrial average, S&P 500 and the Nasdaq were all up nearly 1%. The S&P 500 once again hit a record high.
The jobs report, which was delayed more than two weeks because of the government shutdown, showed the economy gained just 148,000 jobs last month. But the unemployment rate ticked down to 7.2%, the lowest November 2008.
Still, the numbers suggest that the U.S. economic recovery remains fragile and that the Fed will likely keep buying $85 billion in bonds each month for a bit longer.
The Fed has repeatedly said it wants to see more improvement in the job market before it decides to begin scaling back, or tapering, its bond buying program.
Economists expect the Fed will want more data on how the shutdown impacted the economy before it will be ready to start cutting back on its $85 billion a month in bond purchases. Most economists forecast the central bank won't begin tapering until 2014.
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Earnings keep rolling in: Netflix (NFLX) shares surged to an all-time high after the company reported strong quarterly earnings and issued a rosy outlook.
Delta (DAL, Fortune 500) shares also jumped after the airline reported quarterly profit growth.
DuPont (DD, Fortune 500) reported slightly better quarterly earnings, boosted by a lower tax rate and growth in its electronics and communications business.
Coach (COH) posted earnings and sales that missed forecasts, led by a drop in domestic sales. The one bright spot was China, where sales jumped 35%.
Lockheed Martin (LMT, Fortune 500) shares rose after the aircraft manufacturer reported a jump in quarterly profit, year over year, and increased its full-year outlook. The good news came despite the government shutdown, which led Lockheed and other defense contractors to furlough some workers.
Whirlpool (WHR, Fortune 500) shares rallied after the home appliance giant reported a third-quarter profit that doubled from a year ago and boosted its outlook for the year.
Tablet-palooza: Apple (AAPL, Fortune 500) will be in the spotlight in the afternoon, when it hosts an event at which it is expected to unveil a new version of the iPad.
Nokia (NOK), which is selling its device business to Microsoft (MSFT, Fortune 500), unveiled its first full-size tablet and a pair of big-screen colorful Lumia smartphones earlier Tuesday.
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European markets edged higher in afternoon trading. Asian markets ended the day mixed. Stocks in Hong Kong fell after a weak earnings report from China Mobile (CHL), while Japan's Nikkei inched higher. 
First Published: October 22, 2013: 9:51 AM ET
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