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New week but old troubles could rattle markets...Consumer credit report due

Monday - 10/7/2013, 7:40am  ET

NEW YORK (AP) -- It's a brand new week on Wall Street and in the nation's capital. And there's some hope among investors that the bickering politicians in Washington can reach an agreement soon on the budget and on increasing the U.S. debt ceiling. Because of that hope, stocks posted modest gains Friday. The Dow closed up 76 points, and the S&P 500 rose 12. Based on futures trading Wall Street appears headed for losses at this morning's opening.

MUMBAI, India (AP) -- International stock markets slumped today in reaction to heated political rhetoric from the U.S. that raised worries the partial government shutdown could bring the world's largest economy close to defaulting on its debt. Benchmark crude oil fell below $103 per barrel. The dollar fell against the euro and the yen.

UNDATED (AP) -- Stock traders will gain some insight into Americans' spending habits today. The Federal Reserve will release consumer credit data for August this afternoon. In Brussels, officials from the U.S. and the European Union are starting a second, weeklong round of negotiations on the planned free trade agreement between the two economic giants..

WASHINGTON (AP) -- Washington will be watching Wall Street as the partial government shutdown enters its second week amid continued uncompromising rhetoric. Investors may be worried by ominous signs that the United States is closer to the first default in the nation's history. House Speaker John Boehner insists on concessions as part of any increase in the debt limit.

TOKYO (AP) -- Aircraft maker Boeing has suffered a setback with the announcement by Japan Airlines that its latest purchase will be from European rival Airbus, for the first time ever. The deal is worth about $9.5 billion. Boeing had been JAL's star supplier for decades.


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