September Daily Review - 10/09
- Donald Herison
- English
- MARKETS NEWS
- Hits: 1406
1. U.S. stocks wavered Thursday, with the Dow Jones Industrial Average struggling to maintain early gains after global shares dropped, while weak data out of China and Japan -- the world’s second and third-largest economies -- heightened concerns about slowing global growth. Stocks continued their wild roller-coaster ride Thursday, extended the previous day’s losses, where U.S. stocks plunged sharply in the final minutes of trading Wednesday, sending the Dow nearly 240 points lower by the day's end.
2. The dollar remained steady against the other major currencies on Thursday after data showing that Initial jobless claims ticked lower last week as uncertainty over whether the Federal Reserve will hike rates this month continued to weigh.
3. Brazil's financial markets fell on Thursday after Standard & Poor's cut the country's sovereign rating to junk late Wednesday, though assets began to pare losses in late morning trading as the downgrade had been largely priced in.
4. The U.S. labor market appeared to gain momentum in early September as fewer Americans filed for weekly unemployment benefits, but weak inflation pressures may complicate the Federal Reserve's decision whether to raise interest rates. The number of people who filed for unemployment assistance in the U.S. fell in line with expectations last week, remaining in territory consistent with a strengthening labor market, official data showed on Thursday.
5. U.S. stocks were little changed at the open on Thursday amid fears of slowing global growth ahead of the U.S. Federal Reserve's interest rate meeting next week. Global markets were under pressure after data showed a drop in producer prices and car sales in China and slowing capital spending in Japan.
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