Mid-day markets: US shares shake off September woes
By Joseph Toppe
16:00, 1 October 2021
By noon EDT, the Dow Jones Industrial Average was 280 points higher or 0.8%, after sinking over 200 points in early trading on Friday.
Meanwhile, the Nasdaq Composite improved 0.2% and the S&P 500 went 0.6% higher.
Both the Dow and S&P are coming off their worst September since 2011.
The S&P 500 finished the month down 4.8%, snapping a seven-month winning streak, while the Dow and the Nasdaq Composite dropped 4.3% and 5.3%, respectively, suffering their worst months of the year.
Friday’s gains and losses
Shares for Zoom Video Communications went up 2.7%, shares for Merck were 9.8% better, and shares for General Mills shot up 1.3% following an upgrade to Buy from Neutral at Citigroup.
Shares for Southwest Airlines took off 3.5% as shares for Dollar Tree dipped 0.1% after getting downgraded to Sector Weight from Overweight at KeyBanc Capital Markets.
Meanwhile, shares for Keurig Dr Pepper went down 0.6% following the company’s $4bn share buyback programme.
In the energy sector, Futures for US crude oil sank 0.3% to $74.81.
The WSJ Dollar Index dropped 0.2%, while Bitcoin went up around 8% to about $47,330.
Global markets
Japan’s Nikkei 225 sank 2.5% and the pan-European Stoxx 600 was down by 0.4%. Canada's S&P / TSX is up 0.16% mid-day.
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