October 4, 2013 – Business News – Financial News – Stock News –NYSE — Market News 2013-2014
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Business News – Financial News – Stock News — New York Stock Exchange — Market News 2013-2014
Business News – Financial News – Stock Exchange — Wall Street — Market News – New York Stock Exchange 2013-2014
It’s official, Congress was unable to come to agreement on the budget standoff and as a result non-essential services of the government have been shut down and around 800,000 federal workers are temporarily off the job. Republicans are upset with President Obama’s health care and would like key portions of it delayed, hence the bickering. At first, the market took the news on Tuesday with a rally, however, as the days wore on, worry about ripple effects to the economy began to take hold.
In other news, the Institute for Supply Management said its index of factory activity rose to 56.2 in September up from 55.7 in August, the highest level since 2011. The construction spending report was canceled, and the important nonfarm payrolls report was not released on Friday, both as a result of the government shutdown. The ADP private sector job creation came in below expectations at 166,000, with service sector positions providing the bulk of the gain. The ADP numbers have special significance this time because they are the only payroll jobs report available during the shutdown.
Jobless claims once again came in below expectations at 308,000 and the 4 week moving average is at a new recovery low of 305,000.
Now for some individual stocks. Amazon.com, Inc.(NASDAQ: AMZN)said it will hire more than 70,000 seasonal workers during the holidays, up 40% from the year before. Thousands will be kept on a permanent basis after the holiday season.
Now let’s take a look at some stocks.
Amazon.com, Inc.(NASDAQ: AMZN)
Apple Corporation (NASDAQ: APPL)
Velocity Shares Daily 2x Short Term VIX (NYSEARCA: TVIX)
The Boeing Company (NYSE:BA)
Business – Financial – Stock Exchange — Wall Street — Market News 2013 — 2014
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