US midday shares turn lower with shutdown set to continue
(Il Sole 24 Ore Radiocor) - Milano, 10 ott - US shares were trading lower at midday, reversing earlier gains, as investors geared up for consumer sentiment data amid a government shutdown showing no sign of resolving.
With the dearth of data triggered by the ongoing federal stoppage, investors will be watching today's consumer sentiment report with added interest. Expectations are for the main index to slip to 54.1 in October from 55.1 the previous month.
Concern is growing that a protracted shutdown of government offices could leave the Federal Reserve in a tough place to gauge the health of the economy as it prepares for its next interest rate meeting later this month.
The Senate shut up shop late Thursday and is not due to return until Tuesday.
It emerged yesterday that some furloughed federal employees will return to work to publish the September consumer price index scheduled for next week.
With economic data at a premium, investors are turning their focus to the new earnings season which kicked off this week but that begins in earnest next week with big bank results.
At 1511 GMT, the Dow Jones was down 206.36 points, or 0.45%, at 46,152.08 points.
The S&P 500 was 34.66 points, or 0.65%, lower at 6,691.39 points.
The Nasdaq was losing 213.71 points, or 0.91%, at 22,811.11.
points.
(RADIOCOR) 10-10-25 17:30:31 (0467) 5 NNNN