Wall Street backs-up while US data picks-up on key month

Wall Street back up today on a modestly bullish report from the Beige Book again for the US economy and US JOLTS job openings rose from 5643 to 5871 (vs 5630 expected). 

Investors remain nervous this month ahead of the FOMC that was recently tipped by Fed officials to be moving closer to hiking rates again and perhaps as soon as this month, but recent data of late has not been encouraging since the Jackson Hole and best have started to come off the table and put back until after the US elections this winter. however, todays data was slightly better, especially in the JOLTS that was a very solid result with job openings jumping around 230k to 5871 – a new all-time high for this survey.

The S&P 500 was down -0.01% to 2,186.15 while the the Dow Jones Industrial Average  lost 12 points, or 0.1%, to end at 18,526. The Nasdaq Composite Index however rose 8 points, or 0.2%, to a record close of 5,283.93.