- US S&P500 +0.75% (1,703.20); NASDAQ -0.42% (3,791.87); DJIA +1.09% (15,237.11)
- Canada
This Week’s Reports
October’s Reuters/Michigan Consumer Sentiment Index(prelim.) fell to 75.2 from September’s 77.5.
August’s Consumer Credit rose $13.63 billion, led by a jump in non-revolving debt, from July’s +$10.4 billion.
September’s NFIB Small Business Optimism Index fell to 93.9 from August’s 94.0.
Initial Jobless Claims for the week ending October 4th rose by 66K to 374K. Continuing Jobless Claims for the week ending September 27th fell by 16K to 2,905K.
US stocks rose, sending the Standard & Poor’s 500 Index to its highest level since September, on speculation lawmakers were making progress toward an agreement on raising the debt limit to avoid a default. Shares also rose after President Obama nominated Fed Vice Chairman Janet Yellen as the central bank’s next chairman to succeed Ben Bernanke, whose term ends on Jan. 31. Yellen is one of the key architects of the Fed’s unprecedented stimulus program.
Canadian stocks fell at the end of the week, paring some of the gains, as the jobless fell because of dropout from workforce, while gold producers sank amid speculation the US will avoid a default.
September’s Unemployment Rate fell to 6.9% from August’s 7.1%. The unemployment declined to its lowest since December 2008 as young people dropped out of the labor market.
To Read the Entire Report Please Click on the pdf File Below.