Benzinga | Oct 01, 2013 09:15AM ET
The Republican-led House and Democratic-led Senate failed to come to an agreement on Tuesday evening, leaving the US government no choice but to shut down for an undetermined period.
However, most are expecting the shutdown to be short lived and markets responded calmly with the dollar maintaining much of its strength and the S&P 500 up 0.2 percent.
Top News
In other news around the markets:
Asian Markets
Asian markets gained on Tuesday; the Japanese NIKKEI was up 0.20 percent, China’s Shanghai composite was up 0.68 percent and the Shenzhen composite was up 0.91 percent. Hong Kong’s Hang Seng index suffered a 1.50 percent loss.
European Markets
European markets were up across the board, except the UK’s FTSE which was down 0.21 percent. The eurozone’s STOXX 600 gained 0.33 percent and the Spanish IBEX was up 0.72 percent. Italy’s MIB had the largest gains, up 0.97 percent.
Commodities
Energy futures were down across the board, Brent futures fell 0.35 percent and WTI futures were down 0.19 percent. Gold and silver gained 0.35 percent and 0.33 percent respectively, and industrial metals were also higher with zinc posting the largest gains, up 0.58 percent.
Currencies
With the US government shut down, the dollar was under some pressure however there wasn’t a great deal of movement. The euro gained 0.13 percent on the dollar and the yen was up 0.40 percent against the dollar. The pound was up 0.33 percent against the greenback.
Earnings
Notable companies that reported earnings on Monday included:
Pre-Market Movers
Stocks moving in the pre-market included:
Earnings
Earnings Reports Expected On Tuesday Include:
Economics
On Tuesday, most US economic data is expected to be released despite the government’s shutdown. US data due out includes construction spending and the ISM manufacturing index. Other notable economic releases from around the world include eurozone unemployment and manufacturing PMI, South Korean CPI, Italian, French, German and Spanish manufacturing PMI and Germany’s unemployment rate.
BY Laura Brodbeck
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