Summer Ends on a Bang, but It's Too Early for Investors to Celebrate

Before you go, we thought you'd like these...
Before you go close icon
FireworksThe Dow Jones Industrial Average ($INDU) gained a healthy 3% last week thanks to some encouraging economic news and a surprisingly good reading -- relatively speaking -- on the U.S. job market. After suffering its worst August in nearly a decade, the blue-chip index found a welcome way to put summer behind it.

But don't be disappointed if last week's market euphoria fails to carry over the long holiday weekend into this week's trading and beyond, says Kenny Polcari, managing director at interdealer broker ICAP Corporates.

Sponsored Links

"I don't think it's time to pop the champagne yet," Polcari tells DailyFinance's Nikhil Hutheesing in an interview on the floor of the New York Stock Exchange (NYX). "We need to see a trend of really good jobs numbers coming out. And we've got consumer confidence coming out today and weekly jobless claims on Thursday."

In other words, there's a heap of data for traders to digest this week -- so much so that last week's market action is already old news. For more on Polcari's take from the NYSE, see the video below:


Read Full Story

Markets

S&P 500 2,348.69 -7.15 -0.30%
DJIA 20,547.76 -30.95 -0.15%
NASDAQ 5,910.52 -6.26 -0.11%
DAX 12,048.57 21.25 0.18%
NIKKEI 225 18,865.85 245.10 1.32%
HANG SENG 24,021.20 -20.82 -0.09%
USD (per EUR) 1.09 0.00 -0.20%
USD (per CHF) 1.00 0.00 0.41%
JPY (per USD) 110.07 0.10 0.09%
GBP (per USD) 1.28 0.00 -0.21%

Want more news like this?

Sign up for Finance Report by AOL and get everything from business news to personal finance tips delivered directly to your inbox daily!

Subscribe to our other newsletters

Emails may offer personalized content or ads. Learn more. You may unsubscribe any time.

From Our Partners

A Holocaust Survivor Found These Old Photographs - And Solved A Decades-Old Mystery A Holocaust Survivor Found These Old Photographs - And Solved A Decades-Old Mystery
Don't Get Too Close To a Newborn Giraffe Unless You Want to Get Kicked in the Nuts Don't Get Too Close To a Newborn Giraffe Unless You Want to Get Kicked in the Nuts
Man Finds 5 Abandoned 'Puppies' In His Garden - Then Quickly Realizes He Made A Big Man Finds 5 Abandoned 'Puppies' In His Garden - Then Quickly Realizes He Made A Big