Henssler Money Talks

Market Roundup: Dow and S&P Close Third Quarter with Gains


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Both the S&P 500 Index and the Dow Jones Industrial Average closed on the positive side for the last day of the third quarter. The Technology sector was the best performer for the day while Energy stocks were the weakest. Tuesday’s action started in the green, but when the report broke that the ISM Manufacturing Index fell to its lowest level since June 2009, the market quickly tumbled into the red zone. Furthermore, U.S. Treasury bond yields fell as investors rushed to the safe-haven asset. Mid-week, stocks continued to drop with all major equity sectors losing ground during the trading session. ADP reported that 135,000 private sector jobs were added to the economy in September, missing the 152,000 analysts expected. Stocks closed at session highs on Thursday, after trading lower earlier in the day. All S&P sectors ended up closing with gains. The major indices closed Friday’s session in green territory, as the Utilities, Consumer and Healthcare sectors increased. Stocks jumped amid the release of September payroll data when the Labor Department figures reported 136,000 additions to nonfarm payrolls. While missing analysts’ forecast, the increase satisfied traders. Meanwhile, the unemployment rate fell to a 50-year low of 3.5%.
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