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[fire]

It was a very volatile day for the US markets but finally closing higher. Manufacturing data for September was better than expected and even US new home sales figures are showing progress.



Terry Morris, senior vice president and senior equity manager for National Penn Investors Trust Company in Reading, Pennsylvania, commented on market actvity: "The market has turned from buying on dips to selling on rallies."



Kevin Caron, a market strategist at Stifel Nicolaus & Co. in Florham Park, New Jersey, said:"What we’re seeing is a general improvement in the economy as reflected in that ISM number. Beyond that we saw some fairly decent numbers out of new home construction as well, so that’s also a positive. So long as the data continues to come in positive like we saw today, the market will take comfort in that.”


Dow Jones closed 76 higher at 9,789. The S&P 500 index was 6 higher at 1,042. Nasdaq added 4 at 2,049.

[Sofia.forex]

The US unemployment situation worsened to levels unseen since 1983 prompting many Forex traders and investors to seek safe-haven shelter in the Dollar. The number of unemployed Americans rose to 10.2%, a .3% increase from expectations and amplified concern that while the economy is showing growth, the employment situation is dire.

Government estimates assumed the rate would not reach 10% until 2010 and the stimulus package signed in March was supposed to curtail the level to no more than 8.9%.

Meanwhile, the US House of Representatives passed a 1.3 Trillion Dollar health care package, bringing US sponsored health care to all Americans.

The contentious legislation is seen as adding to an already irresponsible debt load, making the boom of the past decade seem that much farther to attain.