Choppy Session Ends in Upswing as Earnings Season Begins
As the trading session ended October 15, 2015, a further slowdown in job creation led the central bankers to decide not to raise rates, and Wall Street hit an eight-week high.
The HVACR Business Stock Index rose 32.35 points, or 2.91 percent, and ended at 1145.52. Advancing issues inched past declining issues at a 17-to-16 count.
While new home sales surged to a seven-year high in August, September consumer sentiment fell to the lowest level in a year.
The Labor Department reported an increase of only 142,000 jobs in September, rather than the 203,000 expected in a Reuters survey.
The Conference Board said that its consumer confidence index rose to 103 in September, from 101.3 in August, the highest reading since January.
Shares of DuPont jumped 8.40 points, or 17.39 percent after the company announced the retirement of Ella Kullman, chair and CEO.
Nortek has ended its review of strategic objectives and said it has decided to end discussions to sell the company. The company also announced it has acquired the HVAC distribution business Phoenix Wholesale, which was funded by available cash.
Year-to-date combined shipments of central air conditioners and air-source heat pumps increased 3.0 percent, to 5,212,328 units, up from 5,060,065 units shipped in August 2014.