Stocks fell as the impasse in Washington and resulting government shutdown continues. Traders say volume has been down 17% over the last 30 days on the uncertainty and some have speculated that if there isn't a resolution by Friday, the S&P may drop further.
Also keeping investors in a holding pattern is the start of earnings season this week. Although Alcoa (NYSE:AA) kicks off with its release tomorrow, traders are awaiting results from JP Morgan (NYSE:JPM) on Friday as a better indicator of profits this quarter.
One interesting aspect of the market's movements recently is its decoupling from Europe. It seems the U.S. government shutdown has investors focused more domestically rather than overseas.
Among the few winners today - so far Blackberry (NASDAQ:BBRY) has jumped 3.5% on buyout rumors. Verizon (NYSE:VZ) and AT&T (NYSE:T) are among bellwethers on the Dow.
Tomorrow the government is scheduled to release its Job Openings and Labor Turnover Survey. That defines job openings that are not filled on the last business day of the month.
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