The Hunt for the Next 10 Bagger

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U.S. stocks skid; manufacturing slows down
NEW YORK (MarketWatch) — U.S. stock investors continued their selling ways this week, pushing prices lower in early trading. Wednesday’s slide stemmed from upbeat employment and manufacturing data for September, which although points to positive momentum for the U.S. economy, continued to fuel worries that the Federal Reserve may raise interest rates sooner than later.

Private employers added 213,000 new jobs in September and many view the report as a proxy for the non-farm payrolls data due on Friday. Manufacturing in the U.S. is still expanding, albeit slightly slower. Both PMI and ISM indexes ticked down, however indicated growth.

The upbeat economic data should be a positive, but ironically, has markets fretting that they may need to retool their holdings.

The S&P 500 SPX, -0.50% fell 17 points, or 0.9%, to 1,955.21, with industrials and materials leading the losses. Nine of 10 main sectors are trading lower. The Dow Jones Industrial Average DJIA, -0.78% dropped 157 points, or 0.9%, to 16,885.42. The Nasdaq Composite COMP, -0.79% shed 50 points, or 1.1%, to 4,442.43. http://www.marketwatch.com/story/us-stocks-futures-flatten-ahead-of-adp-employment-ism-2014-10-01?link=MW_latest_news