Heading into midday, stocks are dipping. The Russell 2000 (-0.11%), S&P 500 (-0.17%), and Dow (-0.18%) are all in decline. The Nasdaq (+0.25%) is the sole exception right now, but it's still barely above session lows.
In normal times, today would have marked the release of initial and continuing jobless claims, and tomorrow we'd get payrolls. But these are not normal times, with the government shutdown into Day 2. And so much for a quick resolution: Nobody is in Washington today.
In fact, prediction market Polymarket is leaning toward the shutdown lasting until Oct. 15 or later. Over 40% of bettors see the shutdown lasting that long, while 35% see it concluded between Oct. 10 and 14. Not ideal for the economy, or the Federal Reserve.
Thursday Reading:.
Maybe the one consolation in all this is that we still will receive reports from private organizations, like Challenger, which reported its monthly job-cut report this morning. It showed 54,064 job cuts in September, down from 85,979 in August.
But otherwise, it's just another day for the markets: more intraday highs (from the Nasdaq and S&P) this morning, while the economy continues to send mixed signals ... or, for the moment at least, no signals at all.
TurboTax Via TheStreet:
-- Noah Weidner, Markets Reporter
