12:47 AM » Wednesday: Unlikely Government Shutdown, ADP Employment, Chicago PMI
It seems likely a shutdown tomorrow will be avoided, but the votes will be at the last minute. Of course there might be a shutdown later this year. From the WSJ: GOP leaders are negotiating with Obama on two-year budget deal; a stopgap measure is expected to be passed this week Republican leaders, seeking to avoid repeated fiscal crises, have opened discussions with President Barack Obama about a two-year budget deal, aiming to avoid a spending fight in the middle of an election year. ... The House and Senate are expected Wednesday to pass a stopgap spending measure to keep the government running through Dec. 11. A shutdown in October 2016 would be a disaster for the GOP - one month before the election - so naturally they want a two year deal. Wednesday: At 7:00 AM ET, the Mortgage Bankers Association (MBA) will release the results for the mortgage purchase applications index . At 8:15 AM, The ADP Employment Report for September. This report is for private payrolls only (no government). The consensus is for 190,000 payroll jobs added in September, the same as in August. At 9:45 AM, Chicago Purchasing Managers Index for September. The consensus is for a reading of 53.6, down from 54.4 in August.