TO FINANCE AND THE U.S. SEEMS TO BE INCHING TOWARDS A DEAL TO AVERT A DEBT DEFAULT.

WITH THE DEADLINE JUST DAYS AWAY, BOTH SIDES SAY THEY'RE OPTIMISITIC AN AGREEMENT WILL BE REACHED.PRESIDENT OBAMA HAS POSTPONED MORE TALKS WITH CONGRESSIONAL LEADERS TO GIVE THE SENATE MORE TIME TO NUT OUT A DEAL.

SO FAR, MARKETS HAVE BEEN TAKING THE POLITICAL DEADLOCK IN THEIR STRIDE DESPITE REPEATED WARNINGS ABOUT THE EFFECT A DEFAULT WOULD HAVE ON THE GLOBAL ECONOMY.

TO THE MARKETS...

THE DOW HAD RISEN 64 POINTS BY THE CLOSE.

THE NASDAQ IS 23 POINTS HIGHER.

THE S-AND-P 500 IS STEADY.

AND IN LONDON OVERNIGHT, THE FOOTSIE CLOSED 20 POINTS HIGHER.

TO COMMODITY PRICES -

WEST TEXAS CRUDE IS TRADING AT 102 U-S DOLLARS A BARREL.

TAPIS CRUDE IS TRADING AT 119 U-S DOLLARS A BARREL.

AND GOLD IS WORTH 1271 U-S DOLLARS AN OUNCE.

THE AUSTRALIAN DOLLAR IS BUYING 95 U-S CENTS, 70 EURO CENTS AND 59 PENCE STERLING.

 

Advertisement