By Kate Gibson, MarketWatch

NEW YORK (MarketWatch) -- U.S. stocks gained on Tuesday, further propelling the S&P 500's record rise, as the September nonfarm-payrolls report supported the notion that the Federal Reserve's monthly bond purchases would continue into next year.

"I think today's stock market and new highs are all about the nonfarm payrolls number and the likely non-response form the Fed. This is a bit of a trifecta -- moderate earnings growth, low inflation and an accommodative Fed; it has been the story all year," said Jim Russell, senior equity strategist for US Bank Wealth Management.

Treasury yields and the dollar fell, while gold climbed.

"When we have more stimulus that means the printing presses at the Treasury are printing more dollars, which forces the value of the dollar lower; gold is starting to move back up, as more and more stimulus could have an inflationary impact on the U.S. economy. That's why gold is having a bid here," said Chris Gaffney, a senior market strategist at Everbank.

Ending at its highest level since Sept. 19, the Dow Jones Industrial Average (DJI) rose 75.46 points, or 0.5%, to 15,467.66.

Closing up for a fifth consecutive session, its longest winning streak since one ending Sept. 11, the S&P 500 index (SPX) climbed 10.01 points, or 0.6%, to 1,754.67, with the material and consumer-staple sectors pacing gains that involved all but technology of its major industry groups.

Netflix Inc. (NFLX) fell 9.2%, after the video-subscription service's CEO chalked up its surge to "euphoria" on the part of investors.

Apple Inc. (AAPL) declined 0.3% after debuting another version of its iPad mini, this one with a high-definition screen, along with a skinnier and lighter model for a larger iPad called the iPad Air, both of which go on sale in November.

Coach Inc. (COH) fell 7.5% after reporting revenue beneath expectations. Delta Air Lines Inc. (DAL) rose 3.2% after the carrier's quarterly profit exceeded estimates. Whirlpool Corp. (WHR) gained nearly 12% after the appliance manufacturer hiked its outlook.

The Nasdaq Composite (RIXF) closed up 9.52 points, or 0.2%, at 3,929.57.

For every share falling, roughly three rose on the New York Stock Exchange, where 753 million shares traded. Composite volume cleared 3.8 billion.

The dollar (DXY) lost ground against the currencies of major U.S. trading partners including the yen (USDJPY) and the euro (EURUSD). The yield on the 10-year Treasury note (10_YEAR) shed 9 basis points to 2.516% and gold futures for December delivery (GCZ3) rose $26.80, or 2%, to $1,342.60 an ounce.

Crude futures for November delivery (CLX3) lost $1.42, or 1.4%, to $97.80 a barrel.

"The numbers just don't support a taper. The Fed will look to continue their bond-purchasing program well into 2014," said Everbank's Gaffney of the data, which showed the U.S. economy creating 148,000 jobs last month, fewer than expected.

The jobs report means "the Fed is likely going to stay with us through the holiday season; they'll be with us for the holiday dinner and probably be celebrating the New Year with us," agreed Darrell Cronk, regional chief investment officer at Wells Fargo Private Bank.

Another economic report released Tuesday had the U.S. Department of Commerce reporting a 0.6% rise in August construction spending, slightly better than the 0.6% increase predicted by economists surveyed by MarketWatch.

Separately, the Richmond Fed's manufacturing report found activity remained weak in October.

Coach Inc. (COH) fell 7.7% after reporting revenue beneath expectations. Delta Air Lines Inc. (DAL) rose 3.8% after the carrier's quarterly profit exceeded estimates. Whirlpool Corp. (WHR) gained 9.8% after the appliance manufacturer hiked its outlook.

Off session highs, the Nasdaq Composite (RIXF) was up 2.71 points, or 0.1%, at 3,922.75.

For every share falling, roughly three rose on the New York Stock Exchange, where 273 million shares traded by 11:45 a.m. Eastern. Composite volume cleared 1.6 billion.

"The numbers just don't support a taper. The Fed will look to continue their bond-purchasing program well into 2014," Chris Gaffney, a senior market strategist at Everbank, said about the data, which showed the U.S. economy creating 148,000 jobs last month, fewer than expected.

The jobs report means "the Fed is likely going to stay with us through the holiday season; they'll be with us for the holiday dinner and probably be celebrating the New Year with us," agreed Darrell Cronk, regional chief investment officer at Wells Fargo Private Bank.

The dollar (DXY) lost ground against the currencies of major U.S. trading partners including the yen (USDJPY) and the euro (EURUSD). The yield on the 10-year Treasury note (10_YEAR) shed 8 basis points to 2.525% and gold futures for December delivery (GCZ3) rose $25.10, or 1.9% to $1,340.90 an ounce.

Crude futures (CLX3) for November delivery lost 75 cents, or 0.8%, to $98.47 a barrel.

Another economic report released Tuesday had the U.S. Department of Commerce reporting a 0.6% rise in August construction spending, slightly better than the 0.6% increase predicted by economists surveyed by MarketWatch.

Separately, the Richmond Fed's manufacturing report found activity remained weak in October.

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