Friday, September 03, 2010

Market Update - 3 Sep 2010

Dear friends,

On 3 Sep 2010, Friday, The Dow was up 127.83 points (1.2%), to close at 10,447.93. The Big 3's other Indexes also rose. The S & P 500 Index rose 14.41 points (1.3%), to close at 1,104.51, while the Nasdaq Composite Index was up 33.74 points (1.5%), to close 2,233.75.

The broad equity market rose due to better-than-expected employment data released on 3 Sep 2010, Friday - the latest piece of improving news on the U.S. economy.

The Labor Department announced that 67,000 jobs have been added in the private sector in Aug 2010, more than the 44,000 that analysts have forecast. But that's still a far cry from what economists consider to be a healthy level for the economy, where a more comfortable figure would be between 100,000 to 150,000.


Tony Chai