Before the Open: Politics continue to mute markets

US and European markets are expected to open lower again today after political squabbling in the US over raising the debt ceiling.

Asian markets closed lower, too, with the potential for US government shutdown still looming.

Key events:

  • UK GDP at 9.30. Expected unchanged YoY (1.5 per cent) & up 0.7 per cent from 0.3 per cent QoQ.
  • UK total business investment at 9.30. Expected at 0.9 per cent, up from -1.9 per cent.
  • US core personal consumption expenditures (QoQ) at 13.30. Expected unchanged at 0.8 per cent.
  • US GDP annualised at 13.30
  • US GDP price index at 13.30
  • US initial jobless claims Sept at 13.30. Expected at 325K, up from 309K.
  • US personal consumption expenditures prices (QoQ) at 13.30. Expected unchanged at 0.0 per cent.
  • US pending home sales (YoY) Aug at 15.00. Expected at -1.0 per cent, up from 1.3 per cent.
  • US FOMC's Stein speech at 15.10
  • UK GfK consumer confidence at 00.05. Expected at -11, up from -13.