Investors are watching nervously as political leaders struggle to avert a possible Treasury default by Thursday. What impact that will have on today's trading is uncertain. But the market closed yesterday with its first loss in a week. The Dow Jones industrial average fell 133.25 points, or 0.9 percent, to 15,168.01. The Standard & Poor's 500 index fell 12.08 points, or 0.7 percent, to 1,698.06. The Nasdaq composite fell 21.26 points, or 0.6 percent, to 3,794.01. Stock futures made modest gains, pointing to an up opening today.
- International stock markets fluctuated between gains and losses today over nervousness about the U.S. debt ceiling impasse. Benchmark crude oil was steady, hovering above $101 a barrel. The dollar gained against the yen and fell against the euro.
- With no solution to announce yet over the debt ceiling, add credit rating worries to the U.S. list. The Fitch credit rating agency has warned that it is reviewing the U.S. government's AAA credit rating for a possible downgrade, citing the current impasse in Washington. The agency said it expects to conclude its review within six months.
- Will Senate leaders save the day? Aides say the leaders are optimistic they can come up with acceptable legislation to temporarily increase the debt limit and end a partial government shutdown. Republican divisions yesterday forced House GOP leaders to drop efforts to ram their own version through.
- The National Association of Home Builders releases is housing market index for October this morning. And the Federal Reserve releases its survey of regional of business conditions knows as the Beige Book this afternoon. Meanwhile, more corporate earnings reports are on the schedule too. Mattel, Bank of America and PepsiCo report quarterly financial results before the market opens.