The first trading day in October was above expectations on the New York Stock Exchange floor. All three of Wall Street‘s major indexes gained three percent. The Dow Jones has even surpassed this threshold.
Dow Jones and Nasdaq both rose
The Dow Jones Industrial Average gained the most during the first trading day of October on the New York Stock Exchange. It gained 3.1 percent shortly before the end of the session. The S&P 500, the main index of the New York Stock Exchange, also gained more than three percent during Monday’s trading. Technology has also grown significantly. As measured by the Nasdaq index, technology stocks gained 2.8 percent.
So far, the scenario outlined by historical experience is coming true. In fact, an analysis of past years has shown that if Wall Street stocks fell by more than seven percent in September, in most cases the trend reversed in October. Of course, it is premature to draw such conclusions on the first trading day of October. Especially when not only the US economy is threatened with a longer and deeper recession, and the world’s major central banks are raising interest rates. Neither adds to the optimism of the financial markets.
