October 2, 2013 -- 8:30 a.m. ET - 10/02/13

Stock index futures are suggesting a lower open on Wednesday. The Dow is down 0.4%. The S&P 500 is off 0.6%. NASDAQ futures are trading 0.3% below fair value on Globex. The major averages are indicated to trade in negative territory as the partial U.S. government shutdown enters a second day. With no scheduled negotiations in Washington D.C., investors are concerned the closure could extend into the debt ceiling deadline on October 17. Futures added to losses following this mornings update on the labor market. Before the open, a report showed 166,000 jobs were added to U.S. private payrolls in September, less than projections for an 180,000 increase. On the earnings front, Monsanto is off 2.4% to $102.50 after posting a wider-than-expected quarterly loss. Shares of Global Payments are 7.2% higher at $54.35 after earnings beat consensus estimates and the bank card processor raised its full year forecast. Kraft Foods is up $0.25 to $53.21 after announcing an increase to its quarterly dividend. European markets are lower after the ECB left its benchmark interest rate steady at the conclusion of its policy meeting. The FTSE is down 0.5% in London. The DAX is off 0.4% in Frankfurt. Asian markets were mixed in the overnight session. The Nikkei fell 2.2% in Tokyo. The Hang Seng gained 0.6% in Hong Kong trading. Treasuries are higher with the 10-year note up 11/32 to yield 2.61%.

 

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