The Dow Jones industrial average climbed 128 points, or 0.8 percent, to 16,186 as of 10:45 a.m. Wednesday.

By midmorning Tuesday, the Dow had slipped 11 percent below its May 21 peak, putting the index into what is generally described as a correction, a drop of 10 percent or more.

The Nasdaq composite fell 16.48 points, or 0.4 percent, to 4,733.50. The upcoming August jobs report is turning heads because it will likely make or break the decision by the Fed.

The USA economy, meanwhile, remains the globe’s key engine of growth, adding 173,000 jobs last month after posting a robust second-quarter surge in Gross Domestic Product (GDP) of 3.7 per cent. But even strength in the US has been construed as bad news by market players. On Friday, the Dow lost 0.1 percent and the S&P rose 0.1 percent while the Nasdaq composite gained 0.3 percent.

The euro was 0.5 percent lower at $1.1244, a day ahead of the European Central Bank’s latest policy meeting. Markets Brace for Tomorrow’s Job Report Tomorrow marks the last jobs report before the Fed meets in September to decide whether or not to raise interest rates.

This week, stocks ended lower as China’s economic troubles are deepening.

The market has been bouncing around sharply the last few weeks following signs of weakness in China and uncertainty over when the Federal Reserve will begin raising interest rates. On the Big Board, advancers outpaced decliners by 2.8-to-1, and on the Nasdaq, advancers led by 2.2-to-1. After a summer of wild volatility in the Shanghai stock market and the surprise yuan devaluation, investors may be using the Chinese holidays to reduce exposure to stocks because they are uncertain about how China will perform on Monday, said Bernard Aw, a market strategist at IG in Singapore.

The Standard & Poor’s 500 index fell 10 points, or 0.6 percent, to 1,977.

ENERGY: Benchmark USA crude oil fell $1.82 to $43.59 a barrel on the New York Mercantile Exchange. A rise of 200,000 was expected; the data indicated an increase of 190,000 was added to private payrolls. Brent crude, a benchmark for global oils used by many USA refineries, rose 94 cents to close at $50.50 a barrel in London.

Nikkei 225 Index down 3.84%.