The US markets were headed lower on Monday as the US government enters the seventh day of the shutdown. Investors are concerned that a prolonged battle between the Republicans and Democrats could further damage the government's credit rating.
Good morning this is Kristin Bianco with the Week Ahead Market Report for October 7, 2013.
In overseas trading, Japan's Nikkei 225 Stock Average was lower by more than 1.2% while the Hang Seng fell by 0.7% overnight. In Europe on Monday, the FTSE 100 was lower by just about 0.8% and the German DAX fell by nearly 0.9% today.
Earnings season kicks off this week with Alcoa (NYSE:AA) and Yum! Brands (NYSE:YUM) reporting on Tuesday, Micron Technology (NASDAQ:MU) reporting on Thursday and Wells Fargo (NYSE:WFC) reporting on Friday.
Join us on Friday for the Weekly Market Wrap and have a wonderful week.
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