US Stocks Made Strong Q3 Debut After A Trying September

US Stocks Made Strong Q3 Debut After a Trying September

NEW YORK (UrduPoint News / Sputnik - 02nd October, 2021) Wall Street's three major stock indexes each posted gains of about 1% or more on Friday as most risk assets made a strong debut for the third quarter after a trying September.

The broad-based Dow Jones Industrial Average, comprising mostly industrial stocks, settled at 34,326, up 1.4% as trading began for October. The Dow lost 4% in September.

The blue-chip S&P 500, which groups the top 500 stocks on the NYSE, settled up 1.1% at 4,354.15. It lost 5% last month.

The Nasdaq Composite Index, led by Big Tech Names such as Facebook, Amazon, Apple, Netflix and Google, finished up 0.8% at 14,567. Nasdaq lost 5% for September.

"There's clearly still plenty of nerves in the markets at the moment, which is perfectly understandable under the circumstances," said Craig Erlam, analyst at online trading platform OANDA.

"It feels like investors will have to cross their fingers and hope the next six months is kind to them. A warm winter would be a welcome start. Inflation pressures easing early next year would give central banks a little more wiggle room."

US stocks posted one of their worst monthly losses for 2021 in September, with the major equity indexes on the New York Stock Exchange losing 4% to 5.3% on concerns of inflation and fiscal uncertainty amid disagreements between Democrats and Republicans in Congress.