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Futures slide as markets look past shutdown to debt ceiling

  • S&P 500 (SPY) futures -0.7%, with DJIA (DIA) -0.5%, and Nasdaq 100 (QQQ) -0.5% as markets today decide the partial federal government shutdown is a bad thing. Beyond the shutdown is the debt ceiling debate which has a far greater capacity to roil financial stability. Were this not resolved by October 17 (the Treasury Sec.'s date), checks would stop going out as payment on U.S. government debt.
  • Europe's off moderately, and Japan dumped 2.2% overnight as the government again pushes through a sales-tax hike just as the economy starts to gain some momentum.
  • The 10-year Treasury yield is down 2 bps at 2.63%.
  • Index ETFs: IVV, SPY, VOO, RWL, SFLA, SSO, UPRO, SDS, SPXU, SH, EPS, RSP, BXUB, BXUC, BXDBDIA, DDM, UDOW, DXD, SDOW, DOGQQQ, QQEW, TQQQ, QID, SQQQ, PSQ, QLD, QQQE.
Comments (3)
  • Financehulligan
    , contributor
    Comments (1079) | Send Message
     
    I´ve heard that Everything in US is shutdown, is that true? Maybee I should cancel my flight next week. Will you open up to the next summer?
    2 Oct 2013, 07:22 AM Reply Like
  • Regarded Solutions
    , contributor
    Comments (15955) | Send Message
     
    yep everything is shut including the pay toilets. That should save us about 12 bucks.
    2 Oct 2013, 07:44 AM Reply Like
  • JABITO423
    , contributor
    Comments (2) | Send Message
     
    Even with the shut down each day we run a deficit.
    2 Oct 2013, 08:04 AM Reply Like
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