The broader stock market rebounded today after two consecutive days of steep declines. The theme has generally been the same–investors are worried about slowing economic growth on a global scale. The start of Q3 corporate earnings reports might also be adding to market jitters as negative earnings guidance among S&P 500 companies have dampened analyst expectations going into the last quarter of the year.
Jobless claims remains historically low at 219,000 despite being higher than the 215,000 claims that economists had expected. Chicago Fed president Charles Evans made a statement that the current state of the economy is in relatively good shape but that current monetary adjustments may not be adequate to mitigate the risk of potential economic shocks.
Investors tomorrow’s employment report may define the direction of the markets heading toward the week’s close.
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