Investors on Wall Street are feeling the pain as the budget fight is waged in Washington. Stocks fell Friday for the sixth day out of the last seven. Traders focused on the risk of a government shutdown and a budget dispute that's likely to extend into October as lawmakers debate raising the nation's borrowing limit. The Dow dropped 70 points and the S&P 500 fell seven. Based on futures trading, markets appear poised for hefty losses at this morning's opening.
- LONDON (AP) - International stock markets have been rocked today by fears that the U.S. government was heading for a shutdown and renewed political instability in Italy. In Rome, Premier Enrico Letta faces a confidence vote on Wednesday. The dollar gained against the euro and fell against the yen. Benchmark crude oil fell below $102 a barrel.
- It's a new week and the budget battle continues in Washington. But some investors may be interested in what Toyota's chairman has to say about the global auto industry. Takeshi Uchiyamada will speak today at the Economic Club of Washington. Also, inflation figures for the Eurozone are out today.
- Is it possible the new round of Airline fees might be ones that passengers embrace? The answer could come soon as airlines are introducing a new bevy of fees that, unlike the first generation of charges, promise a taste of the good life, or at least a more civil flight. Airlines are now renting Apple iPads preloaded with movies, selling hot first class meals in coach and letting passengers pay to have an empty seat next to them.
- Japanese manufacturing slipped in August, but the government said today that output is expected to accelerate in coming months. The overall improvement since late last year could lend support for Prime Minister Shinzo Abe's proposal to raise the sales tax in April. Meanwhile, a survey finds Chinese manufacturing activity ticked up more slowly than expected in September, a sign the gradual recovery in the world's No. 2 economy from an extended slowdown could be more fragile than thought.