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Mixed start to 4th quarter for stocks

Thursday, October 01, 2015 - 01:08

Stocks closed mostly higher a day ahead of the closely watched monthly jobs report. Bobbi Rebell reports.

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Wall Street resumed its selloff on the first day of the fourth quarter but a late day comeback had both the Nasdaq and S&P 500 closing higher. Mixed economic data weighed on stocks. Growth at factories slowed last month, and jobless claims rose modestly last week. Market strategist Peter Kenny says longer term there is downward pressure on equities. (SOUNDBITE) PETER KENNY, INDEPENDENT MARKET STRATEGIST, KENNYSCOMMENTARY.COM (ENGLISH) SAYING: "There still appears to be a move to the downside in the offing. An exhaustion selloff, I don't think we've seen it yet." Apple shares edged lower. A major chip supplier said Apple has slightly cut its demand for supplies for the new iPhones, according to the tech site DigiTimes. Twitter's stock dropped. News web site Re/code reports the micro blogging site operator will name interim CEO Jack Dorsey its permanent head. Shares of the Detroit Three auto makers rose after they reported a jump in sales last month. Dunkin' Brands shares came under heavy pressure. Quarterly comparable sales at the Dunkin' Donuts operator slowed. The company will close 100 outlets. Shares fell in Europe, dragged down by telecom stocks.

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Mixed start to 4th quarter for stocks

Thursday, October 01, 2015 - 01:08