What you need to know before the open – 01/10
Today marks the start of the final quarter of 2013 and, whilst traders are set to deal with an onslaught of data over the next few days as political events unfold, there is a mixed bag of view when it comes to market impact:
European markets may seem strangely resilient at this morning's opening-It may be a modest 'dead-cat-bounce!'
— David Buik (@truemagic68) October 1, 2013
With 40 minutes to go the FTSE is set for a surprisingly calm (to me) reaction to the US shutdown. Forecast to start -2 points, at 6460.
— David Jones (@DavidJones_IG) October 1, 2013
This is a prelude to the vote in two weeks when US could possibly default. International consequences for markets
— MD (@MartinD56) October 1, 2013
Effects of US Government shutdown should be on almighty stock market crash when the markets open shortly.
— Chris Harrison (@chris__harrison) October 1, 2013
The US government has begun shutdown for the first time in 17 years. The political impasse over the budget continues, with concerns that it could fuse with the imminent debate over the raising of the debt ceiling.
Italian politics are still wobbly with splits amongst Berlusconi PDL party members and talk of a confidence vote tomorrow.
Tuesday:
- German market manufacturing PMI for September at 8.53. Expected at 51.3, down from 51.8.
- German unemployment change and rate for September at 8.55. Unemployment rate expected unchanged at 6.8 per cent.
- Eurozone market manufacturing PMI for September at 8.58. Expected at 51.1, down from 51.4.
- UK markit manufacturing PMI for September at 9.28. Expected at 57.5, up from 57.2.
- US construction spending for August at 15.00. Expected at 0.5 per cent, down from 0.6 per cent.
- US ISM manufacturing PMI and prices paid for October at 14.45. Manufacturing PMI expected at 55.8, up from 55.7. Prices paid at 55, up from 54.