US SMALL/MIDCAPS-Stocks rise with energy, Fed hopes
NEW YORK Oct 8 (Reuters) - Mid- and small-capitalization stocks rose along with the broader market on Friday, with energy shares leading gains as oil prices advanced.
Bolstering sentiment was a weaker-than-expected U.S. jobs report, which supported the view that the Federal Reserve could add stimulus.
Shares of Helix Energy (HLX.N) rose 4.2 percent to $12.01, while shares of Superior Energy (SPN.N) gained 3.3 percent to $26.80.
On the New York Mercantile Exchange, November crude oil CLc1 rose 99 cents to $82.66 a barrel, following weakness in the dollar and the jobs report.
The S&P MidCap 400 index .MID rose 0.7 percent while the S&P SmallCap 600 index .SML advanced 1.3 percent. In comparison, the benchmark S&P 500 .SPX gained 0.6 percent.
"Small caps are doing better than large caps...(but) earnings are going to be the driver," and determine the direction, going forward, said Scott Billeaudeau, portfolio manager, Fifth Third Asset Management in Minneapolis.
The earnings season for the S&P 500 kicked off Thursday with results from Alcoa Inc (AA.N).
Among the day's other advancers were shares of Telecommunication Systems Inc (TSYS.O), which advanced after Wedbush Securities raised its rating on the company to "outperform," saying a recent contract the company got from the U.S. Marine Corps provided revenue growth visibility. For details, see [ID:nSGE6970H2] Shares were up 13.9 percent at $5.17.
(Reporting by Caroline Valetkevitch, Editing by Chizu Nomiyama)
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