US debt ceiling causes uncertainties for investors
Trading Floor News September 26, 2013 2:20 PM
<p>European stocks opened steady on Thursday, with indices trading in tight ranges due to the pending battle over the US debt ceiling that causes uncertainties […]</p>
The video cannot be shown at the moment. Please try again later.
European stocks opened steady on Thursday, with indices trading in tight ranges due to the pending battle over the US debt ceiling that causes uncertainties for investors.
At 8.05am GMT, Future contracts for UK FTSE were up 6 points, trading around the 6562 level. While contracts for Germany’s Dax were up around 21 points, at 8683.
Moving on to the US, Before the 1st of October, the US congress will need to pass stop-gap funding for federal agencies, and by October 17 if no deal will be reached regarding a debt ceiling, there may be fears of a default.
In equities, Nokia has internal discussions whether to approach its French rival Alcatel Lucent about a tie-up.
In terms of economic data, the important figures to look out for today are as follows:
- at 9:30 am we are expecting UK Current accounts, an indicator that measures the difference between imported and exported goods and services. The forecast is at -11.2B which is a slight improvement from last month.
- Then at 1:30pm we have the US unemployment claims with a forecast of 319K.
- And lastly at 3pm we have the US Pending home sales m/m.
StoneX Financial Ltd (trading as “City Index”) is an execution-only service provider. This material, whether or not it states any opinions, is for general information purposes only and it does not take into account your personal circumstances or objectives. This material has been prepared using the thoughts and opinions of the author and these may change. However, City Index does not plan to provide further updates to any material once published and it is not under any obligation to keep this material up to date. This material is short term in nature and may only relate to facts and circumstances existing at a specific time or day. Nothing in this material is (or should be considered to be) financial, investment, legal, tax or other advice and no reliance should be placed on it.
No opinion given in this material constitutes a recommendation by City Index or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. The material has not been prepared in accordance with legal requirements designed to promote the independence of investment research. Although City Index is not specifically prevented from dealing before providing this material, City Index does not seek to take advantage of the material prior to its dissemination. This material is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.