Financial News and Portfolio Management Discussion through October 6th

US stocks sank over the week on rising bond yields.  The S&P 500 dropped 1.0% and the Dow edged down slightly for the week.  Abroad, Europe fell 1.8% and Japan declined 1.4% for the week.  The 10-year Treasury reached its highest level since May of 2011 finishing the week at 3.23%.

The September jobs report was mixed with the number of new hires, 134,000, falling well short of the 180,000 expected.  However, the unemployment rate fell to 3.7% from 3.9% for the lowest level since 1969.  July and August were revised higher by 87,000 new hires. Article

US manufacturing activity slowed in September.

US auto sales fell roughly 6% in September from a year ago.

The US services sector activity hit a record in September and private payrolls rose more than expected.



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