It's not yet a done deal in D.C., so market direction uncertain

|By:, SA News Editor

Stock futures point to a flattish open, as nerves return to the market with reports of a deal on the debt ceiling looking premature; meanwhile, the partial government shutdown enters its 11th day.

Yesterday was Wall Street’s largest single-day percentage gain since January, but it's worth remembering that much of the gains reflected a short squeeze - not the kind of well-founded, sustainable rally needed to fully shake out the threat of more volatility.

JPMorgan Chase +1.1% premarket, as Q3 earnings were better than expected on strength in deposit growth, credit card spending and investment banking results; Wells Fargo -1.5%, as Q3 earnings topped estimates but revenue fell a bit shy.

The yield on the 10-year Treasury note slipped to 2.663%, crude oil futures fell 1.2% to $101.79, and gold lost 0.7% to $1,288.20.