October 12, 2013( 6:00 am. Toronto, Ontario time)
The following appeared in the Wall Street Journal from a “shut down” search in Google marked 4 hours ago at 6.00 am.
COMMODITIES October 11, 2013, 3:48 p.m. ET
Shutdown Shuts Down U.S. Data, So Commodities Traders Fly Blind
‘We Might as Well Settle the Hog Futures Contract to the Price of Peaches’
“NEW YORK—Commodities traders and investors are struggling to stay on top of their markets as the U.S. government shutdown cuts off the flow of data they rely on to place bets on everything from corn to cotton to oil…
I copied the above Wall Street Journal material to illustrate how commodity investors are suffering from the government shutdown while stock investors as of yesterday and the day before(October 11 &10) are doing quite we’ll thank you.
October 10, 2013, 2:15 pm.
Things on television:
- The television has been telling me every 10 minutes since at least 8:30 am. that a Mr. Lew told a congressional committee that the U.S. government shut down is having economic consequences.
- A lady speaking on CBC just expressed some concern that even though stock markets have roared to life today that they had fallen recently because of the government shut down.
- On BNN I heard an American trader remind viewers that today the Dow was up 14.4% since January 1, 2013 on the heals of Mr. Bernake’s fall off the frightful “fiscal cliff”.
At 3: 07 the Dow reached 15,083.69:
” Dow Jones Industrial Average (^DJI)
-DJI 15,083.69 280.71(1.90%) 3:07PM EDT
down from 15,636.55 on September 15, but well up from about 13000. on January 1. My guess is investors, both individuals and pension funds, are still doing better than the 6 to 11% historical average stock returns despite cliffs, shut downs and dire warnings by Mr. Obama and Mr. Lew.
And since the 3:07 pm quotation above the DOW improved to 2.18% for this day of October 10, 2013.
“Dow Jones Industrial Average (^DJI)
15,126.07 323.09(2.18%) 4:31PM EDT”