Newspaper article THE JOURNAL RECORD

September off to Bright Start

Newspaper article THE JOURNAL RECORD

September off to Bright Start

Article excerpt

Markets whimpered into the close of the month, capping the worst August performance since 2001. Markets responded to the minutes of the Fed meeting, which said that the economy might need some stimulus measures other than the purchase of government debt. However, investors received some unexpected news from the Conference Board, whose survey of consumer confidence rose higher than expected, to 53.5, from an upwardly revised reading of 51 in the previous month. As September began, stronger manufacturing reports from China and the U.S. and an uptick in factory orders sent a shudder of relief through the markets. First-time claims for unemployment benefits for the week of Aug. 22 fell slightly, though still remain substantially above normal. Pending home sales rose 5.2 percent in July. Retailers reported unexpected August sales.

The Journal Record Index rose 20.43 points, or 2.11 percent, and closed at 989.76 for the weekly session ending Sept. 2. Advancing issues bypassed declining issues at a 28-to-8 count. …

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