Sept 2nd 2014 – S&P 500 Clings to 2,000 After Record Intraday High

Market View:

Well, here we are into September with a bit of a whimper.  Data was ok, not great.  Much more data is on tap this week as well as possible moves by central banks and the non-farm payroll report on Friday gauging US employment for August.

I sensed a recovery today earlier, almost as if we had moved on from the Ukraine crisis, but from what I have seen in the news, we are not out of the woods their yet.  Hopefully peace talks will start soon, so we can focus on the economy which seems to be growing.

Market News:

U.S. stocks mostly fell on Tuesday, with the S&P 500 holding above 2,000 after rising to another intraday record, as energy companies dropped along with the price of oil and investors fretted whether the European Central Bank would make further monetary policy moves this week.

The Commerce Department reported construction spending rose 1.8 percent in July.

Financial-data firm Markit reported its final measure of U.S. manufacturing in August came in at 57.9, down from an initial read of 58.

Wednesday:

10 a.m. Eastern: Factory orders for July

2 p.m: Beige Book

TBA: Motor Vehicles sales for August

News Sources:  CNN Money & CNBC