Wednesday

Today, industrial stocks strengthened, but the broader stock market's gains were reined in after the Federal Reservc'es beige book report raised new concern about consumer spending. We know that the U.S. economy continued to stabilize in July and August, but soft spending amid a weak job market suggested that recovery will remain subdued. The Fed said that manufacturing had improved in most areas as the broader economy continued to steady this summer. Also, the Fed flagged concern about the health of consumer spending, which accounts for most demand in the U.S. economy. In general, we are seeing that investors are remaining cautious. DJIA -49.88 S&P 500 +7.98 NASDAQ +22.62