October 1, 2013 — 8:30 a.m. ET - 10/01/13
Stock index futures are suggesting a higher open on Tuesday. The Dow and S&P 500 are both up more than 0.1%. The NASDAQ is trading 0.2% above fair value on Globex. The major averages are poised to start the fourth-quarter in positive territory as investors weigh the impact of a partial shutdown of the U.S. government. Attention will now be on whether Congress can reach a deal to raise the federal borrowing limit to avoid a debt default by October 17. Futures are also higher ahead of this mornings economic data releases. Shortly after the open a report may show manufacturing activity expanded at a slower pace in September. Later this afternoon an update on vehicle sales is released. On the earnings front, Walgreens is down $0.25 to $53.55 after its quarterly results matched analyst projections. Shares of Merck are up 3.3% to $49.20 after announcing an additional 8,500 in job cuts and plans to reduce operating expenses by $2.5 billion. European markets are mostly higher at mid-session. The DAX is gaining 0.5% in Frankfurt. The FTSE is down 0.3% in London. Asian stocks advanced in limited trading overnight. The Nikkei finished with a 0.2% gain in Tokyo as Prime Minister Abe raised the national sales tax to 8% from 5%. Chinas markets were closed for holiday. Treasuries are lower this morning with the 10-year note down 9/32 to yield 2.65%.