Benzinga | Sep 30, 2013 10:25AM ET
US indices slipped in the early hours of Monday as no movement on the emergency spending bill prompted investors to brace for a government shutdown. With the midnight deadline fast approaching, a lack of progress between Democrats and Republicans has most expecting to see the Federal government shut down on October.
Republicans opposed to Obamacare are fighting to postpone the healthcare bill, but Democrats and the President himself have vowed not to delay it. The Senate is set to reconvene 10 hours before the midnight deadline, where they could make an eleventh hour decision and avoid a shutdown.
Top News:
In other news around the markets:
Asian Markets
Asian markets were mostly down on Monday. Australia's ASX 200 was down 1.66 percent, the Hang Seng index was down 1.39 percent and Indonesia's JSX composite lost 1.55 percent. The Japanese NIKKEI had the largest losses and was down 2.06 percent.
European Markets
European markets were down across the board with Italian politics pushing the MIB down 1.96 percent. The UK's FTSE lost 0.86 percent and the eurozone STOXX 600 was down 0.82 percent. The German DAX and the French CAC 40 were down 1.10 percent and 1.15 percent respectively.
Commodities
Energy futures were hit hard by thawing relations between Iran and the US. Brent futures were down 0.84 percent and WTI futures lost 1.11 percent. Metals were up across the board; gold gained 0.20 percent, silver gained 0.04 percent, copper was up 0.68 percent and aluminum gained 0.99 percent.
Currencies
The euro softened slightly against the dollar, but uncertainty over the US government shutdown weighed on the dollar. The pound was up against both the dollar and the euro, up 0.05 percent against the dollar and 0.20 percent against the euro. The yen gained 0.37 percent against the dollar.
Earnings Already Reported
Notable companies that reported earnings on Friday included:
Pre-Market Movers
Stocks moving in the pre-market included:
Earnings
Earnings reports expected on Monday include:
Economics
On Monday, most will be focusing on the looming US government shutdown. Other notable economic releases include Canadian GDP, British mortgage lending and mortgage approvals, Norwegian core retail sales and Italian and French PPI.
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