The Dow Jones Industrial Average jumped 485 points (4.7%) to close at 10,851, the S&P 500 Index surged 58 points (5.3%) to 1,165, and the Nasdaq Composite advanced 99 points (5.0%) to 2,082. Crude oil rose $4.27 to $100.64 per barrel, and gold declined $22.00 to $872.40 per ounce.
The Chicago Purchasing Managers Index fell from 57.9 in August to 56.7 in September, topping the estimate of a drop to 53.0 and its first decline since January. A reading above 50 is expansionary. Separately, the prices paid index was nearly unchanged at 80.7, which is a little bit of a disappointment given the weakness in the economy and the recent declines in commodity prices.
The Consumer Confidence Index increased from 58.5 in August to 59.8 in September, topping the estimate of 55.0. Confidence remains at a low level.
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