Market fears for September fading
NEW YORK -- September was supposed to be ugly for financial markets.
The prospects of a U.S. attack on Syria and less economic stimulus from the Federal Reserve only added to investor worries going into September, which historically is the worst month of the year for stocks.
Instead, the Dow Jones industrial average is up 3.3 percent so far this month, even after it slipped 26 points, to 15,300.64 on Thursday. The Standard & Poor's 500 index is up 3.1 percent this month, after falling six points Thursday to 1,683.42.
Another way to show how investors' nerves have calmed is the CBOE Volatility Index, sometimes referred to as "Wall Street's fear gauge." When the VIX, as it is better known, moves higher, it means investors expect more volatility in the next 30 days. It is down more than 15 percent this month. Gold, another signal of investor fear, is down more than five percent.