Saturday, September 26, 2009

Stocks turn to jobs woes, as new quarter starts

(MarketWatch) -- The stock market will start the coming week on edge about news from the job market, as investors turn to a new month and a new quarter seeking clues to whether the huge rally in stocks has gotten ahead of itself.A pull-back over the past week may have heightened some of those concerns, although stocks analysts are quick to point that most of the market's pull-backs have been pretty shallow and short-lived.

"A lot of people have been expecting that correction but the market just keeps on springing forward," says Dan Cook, senior market analyst at IG Markets.

On Friday, the Dow Jones Industrial Average ($INDU) fell 42 points, or 0.4%, to 9,665. The S&P 500 index ($SPX) fell 6 points, or 0.6%, to 1,044, while the Nasdaq Composite (COMP) lost 16 points, or 0.8%, to 2,090.

A mixed batch of U.S. economic reports also weighed on Friday. Data on new-home sales and durable goods orders were weaker than expected, even as a gauge of consumer sentiment rose more than initially reported in September.

Check out the entire link below:
http://www.marketwatch.com/m/story/7a00c2de-3bc0-4bf3-9238-a97612866be4/0

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