Limbo

Wall Street gained modestly yesterday with lackluster low-volume trading, after the S&P 500 climbed for four straight weeks. Investors were reluctant to take large positions ahead of the all-important non-farm payrolls report due on Friday that will give further clues on when the Federal Reserve may begin to start tapering its stimulus program.

In other economic data, gross domestic product grew at a 2% annualised rate after a 2.5% pace from April through June and Asia shares swung between gains and losses as Chinese shares dropped ahead of China’s top party officials meeting this weekend.

Following on from my last article on the Twitter IPO – Twitter has raised the upper end of the projected price range for its initial public offering later this week and I will report further as it hits the markets for trading.