October 4, 2013 -- 8:30 a.m. ET - 10/04/13
Stock index futures are higher in the pre-market. The Dow and S&P 500 are up 0.1%. The NASDAQ is also trading 0.1% above fair value on Globex. The major averages are indicated to open in positive territory as attention remains on Washington for developments to end the partial government shutdown. President Obama has cancelled his trip to Asia to work with lawmakers to reach a deal on the budget. There will be no economic data today. Scheduled releases on nonfarm payrolls and the unemployment rate for September were postponed due to the government closures. Facebook is up 1.2% to $49.75 in early trading after the company said it will start selling advertising on its Instagram service. Shares of Forest Oil are advancing 8.7% to $6.90 after announcing it is selling assets in Texas to a private equity firm for $1 billion. Union Pacific is down 1.5% to $153.05 following the railroad operators reduced earnings forecast. European markets are mixed and little changed at midsession. The FTSE is up 0.1% in London. The DAX is down less than 0.1% in Frankfurt. Asian markets were mostly lower on the overnight session. The Nikkei fell 0.9% in Tokyo after the Bank of Japan left its monetary policy steady and economic outlook unchanged. The Hang Seng declined 0.3% in Hong Kong trading. Treasuries are lower this morning. The 10-year note is down 5/32 to yield 2.62%
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