Stocks climbed, though worries over how soon the Federal Reserve might hike interest rates kept markets wary. A few Fed speeches scheduled for this afternoon should give Wall Street further direction. Canadian fertilizer companies Agrium (AGU) and Potash (POT) agreed to an all-share merger. The deal creates an organization with annual revenue of more than $20 billion. American Airlines (AAL) fell after reporting a decline in traffic in August. Higher Pacific traffic failed to offset declines in domestic, Atlantic and Latin American traffic. The airline also expects a drop in third-quarter revenue per available seat mile. Perrigo (PRGO) rose after Starboard Value disclosed a 4.6% stake, worth nearly $600 million. The activist investor said its stock is currently trading at a "significant discount."
More from Video
How quickly do we find support, is what we'll want to know now, as the correction is occurring while economic optimism builds.
Despite the president's promise of no stimulus until after Nov. 3, there are no signs yet that this is the sort of correlated selling that leads to a deep correction.
Salesforce, Amgen and Honeywell will give a lift to the DJIA going forward.
CAG has hung onto the bulk of its recent gains, and could rise to the $50 area, according to the charts and indicators.