Good morning from the business news desk of the Star Tribune.
The shutdown wears on. Stocks are at a one-month low, though not too far off an all-time high. Overnight, stocks in Asia were higher while shares in London, Paris and Frankfurt are lower. U.S. stock futures are slightly higher.
There's less economic data coming out this week as a result of the shutdown, meaning fewer signposts to guide investors. However, it's also the start of season of earnings results for the July-to-September quarter. Alcoa and Yum Brands will be out with their results after market hours today.
The weather looks blustery as the harvest continues. The last government report on the harvest came out the day before the shutdown and indicated that only 10% of the nation's corn had been reaped. Minnesota is among the states where harvest has been delayed by weather. Absent government data, farmers and grain traders are looking at independent reporting. A survey by Farm Journal released yesterday found that 80% of respondents plan to store their corn rather than take it immediately to market, a result that is seen as impacted by the low prices farmers are being offered in the market right now.
by Evan Ramstad, Digital...10/8/2013 12:59:56 PM
The new Ben is hitting banks today. The U.S. $100 is the world's most popular bank note and analysts say that far more are used outside the U.S. than inside. Many are stashed in central banks all around the world.
Star Tribune Chairman Michael Sweeney was just on CNBC discussing the other company he leads, piano maker Steinway Musical Instruments, which was just sold to Paulson & Co., a hedge fund. That transaction has produced hand-wringing and worry among fans of Steinway pianos. The New Yorker took a look at why Steinway provokes such emotions and noted that the company continues to have a reputation for excellent products even after being passed among several corporate owners in recent decades.
by Evan Ramstad, Digital...10/8/2013 5:55:50 PM
Grains are lower. Currencies & metals are choppy. Energies & livestock are higher. US stock indexes have fallen to new lows for the move.
by ADM InvestorServicesvia twitter10/8/2013 6:02:11 PM
Happening today: at 2pm ET, the President will answer questions from the White House. Watch live at: whitehouse.gov/live