The U.S. stock markets last week made strong gains, as Wall Street continues erasing the sharp losses following the September 11 terrorist attack on the World Trade Center. A new week of trading opens with a lot of uncertainty among investors still guiding market activity.
The Dow Jones Industrial Average will start the week 3 percent higher at 9,119. The tech-weighted Nasdaq composite is also in a stronger position, having gained seven percent last week.
But analysts are not sure whether the markets can move up much higher from present levels, given the weakness of the U.S. economy. Experts say about the only certainty on Wall Street these days is that the economy will stay weak through the end of the year.
The jobs report for September suggested more pressure on the U.S. labor market. The unemployment rate remained steady at just under five percent. But the data, gathered mostly before September 11, showed a loss of nearly 200,000 jobs, the biggest monthly decline in a decade. And economists warn the worst is yet to come, as the employment data for October start reflecting more of the economic fall-out of the terror attacks.