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.
8:58am EST: PMI Manufacturing Index
10:00am EST: ISM Mfg Index
10:00am EST: Construction Spending