U.S stocks ended Wednesday's trade with mild gains, as investors spirits slightly lifted upon receiving positive U.S data reports. According to NextCandle.com's forecast, Thursday's outcome should turn out with mixed results: the Dow was given a 65% probability of hitting a lower target, dropping from 13494.61 to 13439.12. On the other hand, the S&P 500 was given a 74% probability of hitting a higher target, climbing from 1450.99 to 1454.30, and finally Nasdaq was also given a 74% probability of hitting a higher target, inching up from 3135.23 to 3142.36.
U.S Stocks finish with modest gains
U.S. stocks ended mildly higher on Wednesday as investors traded in a slightly more upbeat manner upon receiving improved data releases on the U.S economy. Stock gains however remained modest due to fears as to growth in Europe and Asia.
Stocks ended the third quarter with strong gains and rather impressive momentum. Investors are now awaiting the next spark that will once again propell stock prices, meaning either substantial long-lasting growth in economic data and more news of sustained progress in Europe.
Wednesday's meager gains came following the release of ADP's employment change report, with results exceeding expectations. The report indicated that the U.S gained 162,000 private sector jobs in September. The report sets the scene for Friday's monthly jobs data which investors are eagerly awaiting, with the hope that the labor market will bounce back up after last month's mediocre report.
Spain remains in the spotlight
In the meantime, investors' attention is focused specifically on Spain. Ever since Spanish Prime Minister Mariano Rajoy announced that he had no plans to request a bailout on Tuesday, pressure has been building up along with speculation on the timing of Spanish bailout.
The European Central Bank's monthly policy meeting is due on Thursday in Frankfurt. Although few expect ECB president Mario Draghi to announce any new monetary measures, he may expose plans to purchase government bonds.
European stocks closed mixed on Wednesday: Germany's DAX added 0.22%, while France's CAC 40 pulled back 0.35% ; Britain's FTSE 100 posted a 0.28% gain, making up for Tuesday's losses. Across the Pacific, China's markets remain closed for the holiday, while Hong Kong's Hang Seng has been edging up since its opening on Wednesday and gained 0.11% on Thursday. Japan's Nikkei retreated another 0.45% on Wednesday, but managed to move back up on Thursday with a 0.89% gain.
Back on the domestic side, U.S indices slightly nudged up on Wednesday: the S&P 500 stepped up 0.36%, from 1,445.75 to 1,450.99, while the Dow closed practically flat, adding no more than 0.09%, from 13,482.36 to 13,494.61. Nasdaq gained 0.49%, climbing up from 3,120.04 to 3,135.23.