Indexes end down as Iran launches missiles at Israel; defense shares rise
Tue October 1, 2024 7:29 PM
Investors were certainly cautious today in the wake of (a) Iran’s attacks on Israel and expecting more of the same, heightening anxieties about the Middle East conflict spreading and (b) the port strike halting the flow of much of the nation’s shipping, heightening anxieties about a potential significant hit to the economy. And of course, there was the continuing caution awaiting the news later this week regarding jobless claims and payrolls.
On the plus side, reports today showed job openings rebounding and manufacturing activity coming in very close to forecast. But the negatives still very much outweighed the positives shooting all the indexes way down, the Dow down some 400 points just before noon, but all rebounding and recovering some of their losses in the afternoon, but still closing with substantial 3-digit losses. At 13.16 billion shares traded, volume was considerably above the 4-week average of 11.98 billion.
DJ: 42,330.15 +17.15 NAS: 18,189.17 +69.58 S&P: 5,762.48 +24.31 9/30
DJ: 42,156.97 -173.18 NAS: 17,910.36 -278.81 S&P: 5,708.75 -53.73 10/1
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