The DJIA has now gained 47.6% and the S&P500 54.4% from 12-year lows of March 9. The NASDAQ currently has advanced 64.8% from its 6-year low. After reaching annual highs on Tuesday, equities moved lower the remainder of the week, as the DJIA shed 155 points for a 1.6% drop to 9665, the NASDAQ declined 2% to finish at 2090, and the S&P500 dropped 2.2% for a 1044 finish.
This week begins with Iran’s report of a long-range missile firing this morning in front of Geneva talks over the newly-revealed uranium enrichment facility near Qom. This week combines quarter end portfolio adjustments with several key economic posts, including the Employment Situation for September to be released on Friday, where the nonfarm payrolls number is likely to show the 21st consecutive month of job losses, but with a slowing pace of declines.
