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  • DJIA, added 96.58 points, or 0.4%, to finish at 26,916.83.
  • The S&P 500 index climbed 14.95 points, or 0.5%, to close at 2,976, while the Nasdaq fell 0.1%.

On the last day of the quarter and month, the US administration disputed reports over US investment in Chinese companies which helpd to left stocks and reverse the losses made on Friday.  

The Dow Jones Industrial Average, DJIA, added 96.58 points, or 0.4%, to finish at 26,916.83, while the S&P 500 index climbed 14.95 points, or 0.5%, to close at 2,976.74. The Nasdaq Composite Index ended at 7,999.34, for a gain of 0.1%.    For the month, the Dow gained 2% while the S&P added 1.7% and the Nasdaq put on 0.5%. For the quarter, the Dow and the S&P 500 both climbed 1.2%, but the Nasdaq fell 0.1%.

Nonfarm Payrolls to take market attention  

Looking ahead for the month, we will have the key Nonfarm Payrolls where analysts at TD Securities expect payrolls to increase by 150k in September, following the below-consensus 130k August print. “Jobs in the goods sector should remain soft, while we look for a modest rebound in services. The household survey should show the unemployment rate remaining steady at 3.7%, while wages are expected to rise 0.2% m/m, leaving the annual rate unchanged at 3.2% y/y.”

DJIA levels

The index is finding support on the 21-day moving average and continues to test trend-line resistance around 27000 which is guarding a correction back to the September highs in the 27300s. On the downside, bears will look for a 50% mean reversion of the August to recent swing highs at 26379 guards territory down to the low 26000s that meets a 61.8% retracement.