In the last week, sectors that have stood strong include real estate services, photoproducts, office electronics, internet retailers, hotels, employment services, diversified metals and minerals and education services. Among the weakest is the agricultural products sector.  As the week ended, buying in a broad base did give stocks a very big bounce within a fortnight.

As had been expected by many, the number of new homes for sale for August was found to be around 288, 000units in terms of annualized rates. The larger market was not affected by in-line sales for homes. Nike was a surprise in terms of earnings, as the company got more strong orders for the future.

As much as the stock market was broadly strong, it could not do much except extend its highest standing in four months by a fraction, beyond levels set in the course of the week after FOMC had issued a policy statement, its latest.

FOMC had released the statement hat had pledged to make sure additional accommodation had been added in case it is required so that the economy could be salvaged from another dire recession. Macro threats and people’s perception of the Fed as having lacked tools had kept a good number away. Trading volume are yet to impress since it could not really break a billion shares for the fourth time on the NYSE in September.

Stocks might have been strong but the dollar somehow dropped by 1.1 percent, a seventh-month low when put against competing currencies. The weakness to the dollar has been attributed to renewed euro support.

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