“Wall Street stocks jumped almost 2 percent on Wednesday in the latest volatile session as investors weighed the impact of a stumbling Chinese economy and global market turmoil on the Federal Reserve’s impending decision about when to raise interest rates,” Noel Randewich reports for Reuters. “”
“U.S. investors have weathered over two weeks of unusually wide-swinging trade that has left the S&P 500 with its worst monthly drop in three years and a loss of 8.5 percent from an all-time high in May,” Randewich reports. “‘What we’re seeing today is not a recovery. It’s market volatility, it’s nervousness, it’s an inability to call the direction of the market,’ said Jake Dollarhide, chief executive officer of Longbow Asset Management in Tulsa, Oklahoma. ‘Through now and October we’re going to see a lot more of this, a lot of volatility.'”
Randewich reports, “On Wednesday, all of the 10 major S&P sectors were higher, led by the technology index’s 2.6 percent rise, helped by Apple, up 4.29 percent…”
Read more in the full article here.
MacDailyNews Take: Yippee ki-yay, ————!