The stock market is making some wild swings today.
After jumping 48 points at the open of trading, the Dow fell losing as much as 122 points. All of the major indices fell into the red.
And now the markets are erasing those losses. The S&P 500 justturned green.
The initial sell-off may have been related to comments from Russia’s Vladmir Putin on Syria.
“Will we help Syria?” Putin asked rhetorically during the G20 summit. “Yes, we will. We’re doing it right now, we’re supplying arms.”
Stock market futures were surging for most of the morning, even through the disappointing August jobs report.
U.S. companies added just 169,000 jobs in August, which was lower than the 180,000 expected by economists. July’s number was revised down to 104,000 from 162,000, and June’s number was revised down to 172,000 from 188,000.
As Americans dropped out of the workforce, the labour force participation rate fell from 63.4% to 63.2% in July. This helped the unemployment rate to fall to 7.3% from 7.4% a month ago.