Thursday, October 3, 2013

Morning Prep 10/03/13;

7:30am EST

Focus-Points this morning:
·       Shutdown Up-Date:  No major progress to report after meetings between Obama and top Democrats and Republicans finished late Wednesday
·       Shutdown will most likely impact Friday’s Non-Farm Payroll report, no final decision made at this time
·       Traders in the US have Jobless Claims on schedule this morning
·       US Factory Orders expected to be delayed reporting this morning
·       Global Equities are mixed overnight over concerns of the US Shutdown
·       Chinese Manufacturing hits 6-month highs
·       E-Mini S&P -.25%
·       Crude Oil -.25%
·       Euro +.25%
·       FDAX +0.00%

Economic News on the schedule today:
As of Wednesday 5:00 ET, no progress was made on resolving budget issues although a meeting with legislative leaders was scheduled for Wednesday evening by President Barack Obama. Regarding indicators, jobless claims is said to be on schedule for Thursday morning but factory orders will almost certainly be delayed for Thursday release. The employment situation report increasingly appears to be off the calendar for Friday as initially scheduled.

8:30am EST:             Jobless Claims
10:00am EST:           Factory Orders (expected to be delayed)
10:00am EST:           ISM Non-Mfg Index
10:30am EST:           John Williams Speaks

12:45pm EST:          Richard Fisher Speaks

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