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Sep 30 2015

Wall St looks to end rough quarter on positive note

Market Recap 09/29/15:

The Dow and S&P 500 ended slightly higher on Tuesday, though the day’s trading was volatile and the S&P nearly broke below its August low before rebounding. If the benchmark index falls below that level, it could trigger some additional selling and be a negative sign for near-term market momentum. The slight rise in the Dow and S&P comes a day after both fell sharply; that investors declined to seek bargains indicates that many traders expect volatility and weakness to continue, with Friday’s jobs report a particularly critical trading event. The Nasdaq fell on the day, pressured by a decline in Apple (AAPL) shares, though biotechnology stocks snapped a seven-day losing streak.

Looking ahead:

U.S. stock index futures rose sharply on Wednesday, suggesting the third quarter would end on a high note, even though the quarter has been bad for equities overall, with the S&P 500 down 8 percent. The move was the latest example of market volatility, with major indexes posting sharp swings in both directions with every new headline out of China, or with every new indication of when the Federal Reserve will raise interest rates. The day’s direction could become more pronounced with the release of economic data. The ADP report on private sector employment will come out before the market opens, giving investors a look at the labor market ahead of Friday’s payroll report, while the Chicago Purchasing Managers Index will be released shortly after the market open. Make sure you don’t miss this week’s Money Matters with Gary Goldberg, which airs Sundays at 11 on WOR710. Visit our website www.ggfs.com for more details.