Stock futures are modestly higher but treading very lightly as
the financial markets remain on edge while the debate on raising
the debt ceiling continues. Earnings from eBay (
), IBM (
) and Bank of America (
) will provide a distraction, but for the most part, it's all about
whether or not lawmakers can avoid a debt default on Thursday.
Safe-haven assets like gold and Treasuries are all higher as
investors continue to hedge against a potential default and/or
stock market rout.
European markets have reversed a four-day winning streak and are
capitulating to the global risk from a U.S. default with all three
of the major indices in the red.
Today's economic data includes the NAHB housing market index for
October, expected to remain unchanged from the month prior. Later
in the afternoon, the Fed will release the Beige Book which details
economic conditions throughout the 12 Federal Reserve regions
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