The primary index composites in the U.S. finished below break-even during the
last open trading session in the U.S. The DJIA, along with the Nasdaq and the
S&P 500, closed out in the red to end the last trading week. The Dow Jones
Industrial Average finished the last trading session in the red by 2.16 percent
or 240.60 points to close out at 10,913.38. The Nasdaq closed out the last
session negative by 2.63 percent or negative 65.36 points at 2,415.40. The S&P
500 closed out red by 2.50 percent or negative 28.98 points at 1,131.42. The new
trading session will signify the first day of trading in the fourth quarter. In
the upcoming week investors will closely follow a full line-up of events
including the latest reports on Europes debt problems and the implications on
the health of the global market. On Thursday the European Central Bank is set to
meet and decide if they will consider cutting interest rates. Attention will
also be focused on the governments monthly jobless report, as last months
disappointing report showed no new jobs had been added. The official docket for
the week starts on Monday with the latest ISM manufacturing index, the Commerce
Departments construction spending figures and auto manufacturers sales for
September. On Tuesday, Fed chairman Bernanke will address the Joint Economic
Committee of Congress to discuss the outlook for the economy, Apple is expected
to release the iPhone5, and YUM (the owner of KFC, Pizza Hut and Taco Bell) is
set to release earnings reports. On Wednesday, the ADP private employment report
is due out as well as quarterly earnings reports from Costco, Montsanto, and
Marriott. On Thursday the Labor Departments highly anticipated weekly initial
jobless claims report is expected. On Friday, the Labor Departments August jobs
report is due out with economists anticipating unemployment to stay at 9.1%, and
payrolls are forecast to increase by 63,000 jobs for September. Author: Pamela
Frost
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