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Post: Friday 'Day 4' | Daily Delphi

BlogsPit Talk › Friday 'Day 4' October 5, 2013, 6:50 am

THURSDAY RECAP
Initial Claims came in slightly better than expected and the September ISM number came in weaker than forecast at 54.4 vs expected 57.6. The lackluster reports and the uncertainty out of Washington were enough to keep equities under heavy pressure across the board. The S&P's settled down -13.40. Oil chopped around throughout the day with conflicting signals. On the support side, there was good economic data out of both Europe and China and tropical storm Karen is starting to blow in the Gulf. On the downside the shutdown showdown doesn't seem to be going anywhere and a debt ceiling crisis is looking more and more real.

TODAY'S ACTION
The shutdown showdown claims another victim as the BLS said it will not be able to release the September Nonfarm Payrolls today. That leaves the markets watching and wondering what the kids will or can do to end the shutdown and move on to a debt ceiling resolution. As the days go by watch out for choppy trade with potentially big directional moves on any definitive news. Trade wisely.


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