Today is Wednesday, and the last day of September. The Weather is sunny in here.
On the quarter's last day, stocks got an early lift from an improvement in the government's report on the second-quarter gross domestic product, then tumbled on news of a surprise drop in the September Chicago Purchasing Managers index, which measures Midwestern manufacturing.
Analysts who are generally upbeat about the market's prospects for the fourth quarter say the pattern is likely to hold: Bad news will hit the market, reminding investors of the economy's fragility, and stocks will slide. But within a few days, or even the same day, they'll recover as investors grab hold of the fact that no one expects the recovery, or stocks, to have an unbroken path upward.
On Wednesday, the Dow ended down 29.92, or 0.3 percent, at 9,712.28 after falling nearly 134 points. The S&P 500 index fell 3.53, or 0.3 percent, to 1,057.08. The Nasdaq fell 1.62, or 0.1 percent, to 2,122.42.
October tends to be a better month on average for the market, but it still strikes fear in many trading rooms since it's home to the crashes of 1929 and 1987. Last year, it also saw the Dow plunge 1,874.19 points, or 18.2 percent, in just one week.
The market could have trouble continuing its advance if economic reports don't boost optimism.
We'll see what'll happen on October ...go up or go down , nobady has a crystal ball ...
