The US markets were headed lower on Monday as the US government enters the 14th day of the shutdown. Investors are ramping up concern that this prolonged battle between the Republicans and Democrats could further damage the government's credit rating, as the US is only three days away from hitting the debt ceiling.
Good morning this is Kristin Bianco with the Week Ahead Market Report for October 14, 2013.
In overseas trading, Japan's Nikkei 225 Stock Average was higher by more than 1.4% while the Hang Seng was up over 1.1% overnight. In Europe on Monday, the FTSE 100 was higher by just about 0.05% and the German DAX is down about 0.25% today.
Earnings season picks up this week with Citigroup (NYSE:C) reporting on Tuesday, Bank of America (NYSE:BAC) on Wednesday, athenahealth (NASDAQ:ATHN) on Thursday and Morgan Stanley (NYSE:MS) on Friday.
Join us on Friday for the Weekly Market Wrap and have a wonderful week.
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