REUTERS/Max RossiAn Alitalia plane approaches to land as starlings fly at Fiumicino international airport in Rome, October 14, 2013.
It’s day 15 of the U.S. government shutdown. And we’re two days away from the October 17 debt ceiling.
First, the scoreboard:
- Dow: 15,168.0, -133.2, -0.8%
- S&P 500: 1,698.0, -12.0, -0.7%
- NASDAQ: 3,794.0, -21.2, -0.5%
And now the top stories:
- Congress continues to fail America. Today was marked by a flurry of headlines reflecting steps forward and steps backward on a budget deal. From BI’s Brett Logiurato: “Earlier in the day, House conservatives signaled their disapproval of a possible Senate deal that would reopen the government and raise the debt ceiling, providing expected complications just two days ahead of a Thursday deadline to raise the nation’s borrowing limit… Meanwhile, Senate negotiations between Majority Leader Harry Reid and Minority Leader Mitch McConnell have stalled while McConnell waits to see if the House can pass its bill.”
- “It’s all fallen apart” on budget talks, said Senator Diane Feinstein at one point. Click Here For Full Coverage Of The Debt Ceiling Deal Talks »
- Gold surged and T-bills tanked on all of this renewed fiscal brinksmanship.
- According to the New York Fed, the Empire State manufacturing index fell to 1.52 in October, down from 6.29 in September. This was worse than the reading of 7 expected by economists. However, the new orders sub-index jumped five points to 7.8. “In general, robust vehicle sales, a recovery in exports and rising order backlogs all bode well for the manufacturing sector in the near term,” said Deutsche Bank’s Joe LaVorgna.
- Earnings season continues. After the closing bell, chip giant Intel, search giant Yahoo, and rail giant CSX announce earnings.
- Don’t Miss: Robert Shiller’s Devastating Takedown Of Housing As An Investment Will Have You Renting For The Rest Of Your Life »