Author Topic: Wall Street falls as no progress seen to resolve shutdown (Read 561 times)

hubag bohol · « **on:** October 08, 2013, 04:33:07 PM »

Reuters â€“ 11 hours ago
By Ryan Vlastelica

NEW YORK (Reuters) - U.S. stocks fell on Monday, extending two weeks of losses, as a lack of progress in ending the partial U.S. government shutdown or the debt-ceiling standoff kept investors nervous.

The S&P 500 ended near its lows of the session in a volatile day and dropped for its 10th time in the past 13 sessions. The CBOE Volatility index (.VIX), a measure of investor anxiety, jumped 16 percent to its highest level since June. The VIX has gained for three weeks, up 48 percent over that period.

Much of the government has been closed since the start of the month, resulting in up to a million workers being furloughed. Investors are also looking ahead to the upcoming debate over the debt ceiling, which could result in a default on U.S. debt if not resolved.

Linkback: https://tubagbohol.mikeligalig.com/index.php?topic=76095.0

hubag bohol · « **Reply #1 on:** October 08, 2013, 04:33:37 PM »

In weekend comments, neither Republicans nor Democrats offered any sign of progress and both blamed the other side for the impasse. The deadline to increase the ceiling is October 17.

"The market is vulnerable to further declines for as long as the situation remains unclear. With each passing day, the market becomes more restless," said Leo Grohowski, chief investment officer at BNY Mellon Wealth Management in New York.

Grohowski, who helps oversee $175 billion in client assets, estimated that each week the shutdown continues could shave 10 to 15 basis points off gross domestic product.

"While that isn't a lot, the recovery is still too fragile to withstand any long-term impact. It will start to have an impact on earnings estimates, which will impact valuations," he said.

Linkback: https://tubagbohol.mikeligalig.com/index.php?topic=76095.0

hubag bohol · « **Reply #2 on:** October 08, 2013, 04:34:06 PM »

Nine of the S&P's 10 sectors were lower on the day, with groups tied to the pace of economic growth, including financials (CME:^SPSY) and materials (.SPSMCM), among the weakest of the day. The only sector that rose was telecom (.SPLRCL), which is considered a defensive play.

About 70 percent of Nasdaq-listed shares closed lower while more than three-fourths of stocks traded on the New York Stock Exchange ended down.

Among the biggest losers in the financial sector, Capital One Financial (COF) lost 2 percent to $68.88 while American Express Co (AXP) lost 1.8 percent to $72.94.

The Dow Jones industrial average (^DJI) was down 136.34 points, or 0.90 percent, at 14,936.24. The Standard & Poor's 500 Index (^GSPC) was down 14.38 points, or 0.85 percent, at 1,676.12. The Nasdaq Composite Index (^IXIC) was down 37.38 points, or 0.98 percent, at 3,770.38.

Linkback: https://tubagbohol.mikeligalig.com/index.php?topic=76095.0

StevenRan · « **Reply #3 on:** October 08, 2013, 04:39:12 PM »

mahimo ba ug binisay-on. wa jud ko kasabot sa imong gi pang yamyam

Linkback: https://tubagbohol.mikeligalig.com/index.php?topic=76095.0

MikeLigalig.com

Author Topic: Wall Street falls as no progress seen to resolve shutdown (Read 561 times)

hubag bohol

Wall Street falls as no progress seen to resolve shutdown

hubag bohol

Re: Wall Street falls as no progress seen to resolve shutdown

hubag bohol

Re: Wall Street falls as no progress seen to resolve shutdown

StevenRan

Re: Wall Street falls as no progress seen to resolve shutdown