The stock market shuddered into the end of September, with the S&P 500 breaking through its June levels and plumbing new lows for the year as big swings in the bond and currency markets have kept investors on edge. But markets don’t go straight down forever, and history provides some hope for a near-term rebound. According to Ryan Detrick of the Carson Group, the S&P 500 has risen in October in five of the six previous times where it fell 7% in September. Other than assessing the market action, the main focus of traders in the week ahead will be Friday's jobs report. The labor market, and the economy as a whole, has a difficult needle to thread with traders likely wanting to see some moderation in job gains that causes the Federal Reserve to slow its hiking campaign a bit. “From a markets perspective and a Fed perspective, we probably need to slow down the rate of job gains,” said one strategist. |
