Business and Finance
AN INTEREST-RATE BOOST by the Federal Reserve appears all but certain following the release of October jobs data. Unemployment dropped 0.1 percentage point, to 5.8% of the work force. The economy's surprising show of strength put more pressure to fight inflation on the central bank, as it approaches a key policy meeting next week.</br></br>Bond prices declined on the jobs report, pushing yields to their highest level in more than three years. The Treasury's 30-year bond lost more than 3/4 point, lifting its yield to 8.15%. Stock prices dropped as well.</br></br>---</br></br>Corporate profits continued to surge in the third quarter. Companies chalked up the strong performance to a healthy U.S. economy, which lifted earnings in virtually every industry, and to manufacturing price gains and improved overseas sales.</br></br>Stock investors are ignoring the solid quarterly earnings and have begun shifting more assets into cash and bonds. The profit gains have been overshadowed by worries about rising interest rates and inflation.