Tuesday, October 1, 2013

Morning Prep 10/01/13; SchoolOfTrade.com

7:30am EST

Focus-Points this morning:
·       As of Midnight EST the US Gov. began a partial shutdown of federal nonessential operations began due to non-enactment of a budget for the fiscal year starting October 1st.
·       Rumors surrounding the shutdown say that Friday’s Non-Farm Payroll news may be moved forward to earlier this week due to the shutdown of the Commerce Department
·       Traders begin with a new month of October this morning
·       Chinese Manufacturing reports miss expectations but still set another multi-year high
·       Japan’s Abe plans to raise sales Tax next year from 5% to 8%, as well as fresh stimulus package for small businesses
·       German Unemployment rises for the 2nd month in a row
·       Italian Unemployment reaches 12.2% which is a record-high
·       Traders prepare for economic news from Manufacturing and Construction this morning in the US, although the shutdown will most likely take center-stage.

Economic News on the schedule today:
8:58am EST:             PMI Manufacturing Index
10:00am EST:           ISM Mfg Index

10:00am EST:           Construction Spending

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