From The Trading Floor: Equities are little changed this morning as investors await developments in talks to end a partial government shutdown and raise the Federal debt limit. Republicans are reconvening at 10:00 am
- House Speaker John Boehner has reportedly told Republicans that he won't allow the U.S. to default, and if necessary, will use GOP and Democratic votes to increase the debt ceiling. Boehner is also looking to negotiate a combined deal for passing budget legislation and raising the cap. House Republicans are scheduled to meet again at 10:00 am this morning
- The Labor Department won't publish the Nonfarm Payrolls report today, as scheduled, due to the government shutdown. The department hasn't yet set a new release date
- Meanwhile, a host of Federal Reserve officials will be speaking later today, including New York Fed President William Dudley, Dallas Fed President Richard Fisher, Richmond Fed President Jeffrey Lacker and Minneapolis Fed President Narayana Kocherlakota
- President Obama has cancelled his trip to Asia to deal with the government shutdown and looming debt ceiling deadline.
- As expected, the Bank of Japan has maintained its target of expanding the monetary base by ¥60-¥70T ($720B) a year. The BOJ again said the economy is "recovering moderately," noting that corporate capex has been rising as profits have improved.
- German producer prices fell 0.1% in August from the previous month and 0.5% from a year earlier, both figures missing expectations for zero growth in prices.
- An Italian Senate Committe has begun a hearing over whether Silvio Berlusconi should be expelled from Parliament following his conviction for tax fraud
- Commodity Futures Trading Commission Chairman Gary Gensler reportedly intends to leave the CFTC by the end of the year after five years in the post
- Technically today we see resistance at 1687 / 1690 with support at 1671 / 1674
