Wall Street’s main indexes rose on Thursday at the end of a bruising month as investors kept a close watch on funding negotiations in Washington to prevent a government shutdown. The benchmark S&P 500 was still on course to snap its seven-month winning streak, due to worries about inflation, fallout from China Evergrande’s potential default and wrangling over the debt ceiling. A report from the Commerce Department revised second-quarter growth to be slightly higher, while Labor Department data showed weekly jobless claims rose more than expected, showing that the job market remained under pressure. “While slower growth is a concern, it’s encouraging to see a bit of a bump on (GDP) front … as we wrap up the third quarter and look ahead, investors will likely need to remain nimble as the economic recovery continues in a zig zag,” said Mike Loewengart, managing director, investment strategy at E*TRADE Financial. Five …
Wall Street Rises, but Tracks Steep Monthly Losses
September 30, 2021
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