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: Stocks Shrug off Russian Saber-Rattling, Returning Focus to Friendly Jobs Report
By: MT Newswires
Stocks are back on the plus side at mid-day, rebounding from a 100-point slide for the Dow Industrials that followed Russian President Vladimir Putin voicing continued Russian support for Syria. But market participants soon shrugged off the Russian saber-rattling and renewed their equity buying spree triggered by a weaker-than-expected August non-farm payrolls report. The below-consensus rise of 169,000 new hire last month, coupled with deep downward revisions to the June and July figures were seen as throwing cold water on prospects for a September tapering by the Federal Reserve and lifted prices higher at the open.