Weather Alert

POOR DRAINAGE FLOODING POSSIBLE TODAY

While widespread flooding is not expected, multiple rounds of moderate to heavy rain, could result in minor flooding in poor drainage areas. Drivers should watch for standing water, and hydroplaning on area roadways

WEATHER ALERT


Weather Alert Radar


September 30, 2013 -- 8:30 a.m. ET - 09/30/13

U.S. stock futures are indicating a lower open. The Dow and S&P 500 Index are at least 0.9% below fair value. The NASDAQ is down 0.8% in early trading. The major averages are extending last weeks retreat as the deadline to avert a partial government shutdown approaches. Congress has until midnight tonight to approve a budget, however lawmakers remain at odds as the House wants to delay President Obamas health care reform for a year. The Senate reconvenes at 2 p.m. ET after a weekend with no signs of cross-party negotiations. With the spotlight on Washington, economic data is on the back burner. The Chicago Purchasing Managers Index is due out at 9:45 a.m. ET and is expected to improve for the third straight month in September. In addition, the Dallas Fed manufacturing outlook survey is scheduled for release at 10:45 a.m. and is anticipated to hold steady this month. Overseas data is also being overlooked. Euro zone inflation slowed for a second month in September and in Asia, a Chinese manufacturing index unexpectedly weakened from a preliminary estimate. Ahead of the opening bell, financials are under pressure. JPMorgan is down 1.7%, Morgan Stanley is losing 1.6% and Citigroup is falling 1.3%. In fixed-income, Treasuries are gaining ground. The 10-year note is up 6/32 to yield 2.60% and the 30-year bond is gaining 12/32 to yield 3.67%.

 

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