"U.S. stocks surged on the final day of the best September in 71 years"

[ProSense]

US Stocks Add To Early Gains After Chicago PMI Data

By Kristina Peterson
Of DOW JONES NEWSWIRES

NEW YORK (Dow Jones)--U.S. stocks surged on the final day of the best September in 71 years, boosted by encouraging manufacturing and jobs data.

The Dow Jones Industrial Average added 78 points, or 0.7%, to 10911 on Thursday, the final day of the third quarter. The Dow has climbed nearly 12% this quarter, buoyed by the strongest September rally since 1939. This month alone, the measure has surged 9.3%, with monthly gains in all of its 30 components, while the Standard & Poor's 500-share index has jumped 9.9% as fears over a double-dip recession eased.

September's surge brought the benchmark indexes into the black for the year. The Dow is now up almost 5% year to date. Of the previous 68 years when the measure was up after three quarters, it continued to rise 71% of the time and ended the year in the black 94% of those years.

<...>

Better-than-expected manufacturing and jobs data helped boost the sectors most closely tied to the U.S. economy. The closely-watched Chicago purchasing managers' index was 60.4 in September, higher than the 56.0 reading expected by economists.

Separately, the number of U.S. workers filing new claims for jobless benefits dropped by more than expected last week, falling by 16,000 to 453,000 in the week ended Sept. 25, the Labor Department said. The government also revised slightly upward its estimate of second-quarter gross domestic product.

Chicago PMI increases in September

by CalculatedRisk

From the Institute for Supply Management – Chicago:

The Chicago Purchasing Managers reported the CHICAGO BUSINESS BAROMETER improved in September to chalk up a full twelve months of expansion.

The overall index increased to 60.4 vs. 56.7. Note: any number above 50 shows expansion.

Employment index declined to 53.4 from 55.5 in August.

The new orders index increased to 61.4 from 55.0.

Overall this was a positive report. The national ISM manufacturing index will be released tomorrow.

edited title

[golfguru]

1. and I expect the uptrend to continue through

November 2nd. However October is notorious for crashes so be careful.

[ProSense]

2. It would be great if the unrec's were accompanied by comments as to why good news is undesirable. n/

[zipplewrath]

4. Different kinds of unrecs

I'm not the one that unrecommened it, so I can't speak to the specifics. But I tend to urec things not because I like, or don't like the information that the post contains, but because I find it either poorly presented, or just plain uninformative. Statements of the obvious, good or bad, can fall into that category.

"A new study just came out indicating men cheat on their wives". That's gonna get an unrec.

Also, a collection of links to articles, with little added commentary, or even a description of why anyone would follow them is another example.

But it is an interesting thought to have SOME indication of the reason for unreccing a post. Some indicator, maybe only viewable by the author, that ranks it as uninteresting, misleading, counter productive, hostile, etc.

[ensho]

3. wow, good news

nt

[ProSense]

5. Too much for some. n/t