Markets are down heading into historic month of October

Markets are down heading into historic month of October Updated: 10/1/2014

With all of the hoopla surrounding the Middle East, Hong Kong, Kiev, and other parts of the world, the markets are down this week. On the US employment front, the ADP employment report came out for the month of September, beating expectations with 213,000 new jobs in private payroll. Consensus estimates were 200,000.

“With the expectation of the US bond buying program officially coming to a close at the end of the month, October looks to be a historic month,” said David Krein, Head of Research, Nasdaq Global Indexes.

INDEX MOVES THIS WEEK

  • NASDAQ BIOTECHNOLOGY INDEX (NBI) is down 2.21% since Friday’s close. Year-to-date performance for the index is up 19% after being above 20% at the end of February, and down 5% by mid-April.
  • PHLX OIL SERVICE SECTOR (OSX) is down 2.01% since Friday’s close. The price of oil is currently $92.29 per barrel.
  • PHLX Gold/Silver Sector (XAU) is down 3.06% since Friday’s close. The price of gold is currently $1,215 per ounce, down $71 from the end of August.

INDEX TO WATCH

  • The NASDAQ Middle East Africa Index is a float adjusted market capitalization-weighted index, and tracks the performance of securities located in Middle East Africa. The index is rebalanced semi-annually, on the close of trading the third Friday in March and September. The September semi-annual evaluation occurred Friday, September 19. The index currently includes 233 securities. The index is down -0.3% this week but up 7.8% year-over-year.

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