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Market News


European Markets

Opening calls are indicating a higher open this morning.

Asian Markets

 

The Nikkei average is trading flat in the current session.

 

US Markets

In another day of sharp swings, U.S. stocks closed significantly higher, despite clocking large losses through much of the day. By Tuesday’ end investors ignored the S&P 500′ early slide into bear territory and furiously bought back into stocks.

The S&P 500 closed up 25 points, or 2.3%. The Dow Jones industrial average ended up 153 points, or 1.4%. The Nasdaq Composite edged 69 points higher, or 3% by the close. The tech-heavy index ended the day higher, despite Apple’ 0.5% slip. Apple disappointed investors and consumers when it didn’t announce the hotly anticipated iPhone 5 at its annual meeting.

Events this week

Wednesday: Investors will get the ADP private employment report at 8:15 a.m. ET. Economists expect the private sector hired 48,000 workers in September, down from the 91,000 in the prior month.

Outplacement firm Challenger, Gray & Christmas will also issue its report on planned job cuts for September.

Costco (COST, Fortune 500) and Montsanto (MON, Fortune 500) will report quarterly earnings ahead of the opening bell. After the close, hotel operator Marriott (MAR, Fortune 500) will report its quarterly earnings.

Thursday: The Labor Department’ closely-watched weekly initial jobless claims data comes out at 8:30 a.m. ET, with economists expecting claims to increase to a reading of 401,000 from last week’ 391,000 claims.

Friday: The week culminates with the Labor Department’ August jobs report, which will be released at 8:30 a.m. ET. Economists expect unemployment to stay steady at 9.1%. Payrolls are forecast to grow by 63,000 jobs in September. The economy added no new jobs in August.