Econintersect: The markets likely missed a “good news” wholesale data report from US Census, as the government shutdown continues for the ninth day.
The market forecast 0.2% to 0.3% inventory growth, and Econintersect believes that sales (not inventories) would be the headline news.
From CBS News:
Eight days into the government shutdown, President Obama and House Speaker John Boehner, R-Ohio, on Tuesday dug their heels further into their respective positions, insisting the other side has to budge first. Mr. Obama said he’s willing to negotiate with Republicans over anything, but only after they allow Congress to re-open the government and raise the debt limit to end the threat of default. Even if Congress only managed to re-open the government for another six-weeks, Mr. Obama said he’d “absolutely” be willing to negotiate after that.
From the Chicago Tribune:
Republicans and Democrats in Congress saw signs of hope today for a break in their fiscal impasse, as members of both parties floated the possibility of a short-term increase in the debt limit to allow time for broader negotiations on the budget. The slight shift in tone was aided by a column by House Budget Committee Chairman Paul Ryan of Wisconsin, who urged a negotiated end to the stalemate but did not mention Republican demands for linking changes in the federal healthcare law with government funding.
