October 10, 2013 -- 8:30 a.m. ET - 10/10/13
Stocks futures are pointing to a higher open in New York. The Dow is up 0.7% on Globex, while the S&P 500 and NASDAQ trade 0.8% above fair value. Investors are optimistic heading into the opening bell on hopes that congressional leaders will reach a deal in the debt limit debate. Focus will be on any developments out of Washington as President Obama and 18 members of the Republican Party are scheduled to hold a meeting later today. Early economic data was largely overlooked as weekly jobless claims unexpectedly rose to 374,000. This increase comes after last weeks unexpected decline caused by reporting errors. On the earnings front, Ruby Tuesday is off 16.3% in pre-market action after the company reported a wider-than-expected loss in their quarterly report. Quest Diagnostics is off 5.9% as the laboratory service provider lowered their third-quarter earnings guidance below previous estimates. In other news, Boeing is up 1.3% after the stocks received an analysts upgrade. Turning to fixed income markets, Treasuries are lower along the curve. The benchmark 10-year note is off 11/32 to yield 2.71% and the 30-year bond is off over 1/2 of a point to yield 3.78%.