Posted: Oct 1, 2012 9:37 AM by KPAX News Staff
Updated: Oct 1, 2012 9:34 AM
Wall Street kicks off a new month and a new quarter with plenty of economic news. Expect reports this week on construction spending, manufacturing and auto sales. The main event comes Friday when the government releases the unemployment report for September. The previous report showed the economy added just 96,000 jobs in August while the unemployment rate fell slightly to 8.1% because more people stopped looking for work.
It was a weak finish to a strong third quarter on Wall Street. The Dow Jones Industrial Average fell 49 points on Friday, but rose 4% for the quarter. The NASDAQ lost 20 points, but rallied more than 6% from July through September.
Investors are awaiting the minutes from the Federal Reserve's last meeting. Policymakers decided to keep rates near record lows through mid-2015 and to buy back more bonds in an effort to jumpstart the economy.
Amazon's new Kindle Paperwhite e-reader goes on sale this week. The new Paperwhite was unveiled last month alongside new versions of amazon's kindle fire tablets devices. It is the latest version of the Kindle to go head to head with Barnes and Noble's nook.