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Stocks Nudge Lower with No End to D.C. Showdown in Sight

By  +Follow October 2, 2013 2:15PM
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The tense atmosphere of uncertainty resulting from a second day of government shutdown on Wednesday proved to be too much for stocks, as indices were down across the board.

After Tuesday’s surprising rally, the Standard & Poor’s 500 was down 0.07 percent by the closing bell to 1,693.87 points, while the Dow Jones Industrial Average was off 0.39 percent to 15,133.14 points, and the NASDAQ edged down 0.08 percent to 3,815.02 points.

The partisan impasse currently forcing the federal government into skeleton crew-mode for going on two days now will cause key economic data generated by government institutions, considered “non-essential,” to be put on hold until the nation’s political system is back up and running. This has left investors with little else to go on but their own anxiety, even as the political class seems more unwilling, or unable, than ever to remedy the situation.

Economic data was not completely absent from the picture, however. The monthly private payrolls report from Automatic Processing Data (ADP) was released indicating that privately-owned US companies added 166,000 employees to the rolls during the month of September, a bit shy of the average of economists’ expectations of a gain of 180,000. The figure for August was revised down from the previous 176,000 figure to 159,000.

Basic Materials stocks were a major support to the S&P, with significant gains for The Mosaic Company (MOS) , Cliffs Natural Resources Inc. (CLF) , and United States Steel (X) . Still, the index ended lower under pressure from substantial losses for companies who benefit from their work with the government, including many in the industrial goods/defense sector; United Technologies ($UTX), Raytheon Co. (RTN) , and Lockheed Martin (LMT) were all lower by the closing bell.

On the Dow, Coca-Cola (KO) and American Express (AXP) suffered the day’s largest percentage declines behind United Technologies. On the other end of the index, Microsoft (MSFT) was up about one percent after Wednesday’s news of an effort to remove founder Bill Gates from the company’s Board of Directors.

On the NASDAQ, shares of video-game maker Electronic Arts Inc. (EA) dropped after the company’s announcement that its wildly popular NCAA-themed series of sports games would be discontinued next year as a result of a lawsuit from former college athletes. Tesla Motors Inc. (TSLA) was over 6 percent off after a video of one of its Model S sedans in flames after a relatively small accident went viral.

 

 

[Image Courtesy of Wikimedia Commons]

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of equities.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions.


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Results for TSLA
Ambrot Capital
29 Aug 14 08:53:23
Keep watching $TSLA new highs being made. Stock now at $271.95 #bullish #watchlist
12Stocks.com
29 Aug 14 08:53:03
Nasdaq100 #Stocks Trend $AVGO $NXPI $TSLA $AMAT $STX $AMGN $SPLS $CERN $DTV $GILD $SIRI $MNST $YHOO $AAPL $ALTR @ http://t.co/YdSIjG11yN
Options Network
29 Aug 14 08:52:56
Swat post ' $TSLA chooo choooo... new highs.... still fighing?? ' on http://t.co/370jRX2DY6 http://t.co/EoaMQzJ55L
12Stocks.com
29 Aug 14 08:52:46
Nasdaq100 #Stocks Performance $AVGO $NXPI $TSLA $SPLS $AMAT $AKAM $MYL $VRTX $INTC $FB $EQIX $ILMN $VRSK more@ http://t.co/YdSIjG11yN
Financial Headlines
29 Aug 14 08:52:08
$TSLA: Will Tesla Motors Inc Develop A 500-mile Graphene Battery? http://t.co/qADiKTs2H9 http://t.co/d8WWz5hw1U
STOXX
29 Aug 14 08:52:03
,Tesla Motors Inc $TSLA Why The Stock Will Go On A Rocket Ride That Will Last For Years | ETF DAILY NEWS http://t.co/NPKITq8cTx
Jake Swift
29 Aug 14 08:51:58
This could be epic. Holding a bunch of cheap September calls on $TSLA We want $300. When you really like something you want more!
Trevor G
29 Aug 14 08:51:52
@IncredibleTrade nice! I'm doin good on $TSLA $NFLX $FEYE $AET $RFMD and $FB
Kirill Klip
29 Aug 14 08:51:36
Commented on: "Report: China considering gas tax" http://t.co/57Ya1jVU6h $TSLA
Day Traders Group
29 Aug 14 08:50:54
http://t.co/B0v0SZPbOB BULLISH Stochastic crossover Alerts $PDI $OCR $NU $FB $PCLN $NFLX $GMCR $TSLA $QQQ and more
STOXX
29 Aug 14 08:50:43
$TSLA As we mentioned 3 days in a row THE CUP'N'HANDLE thing. Did you pay attention? What a company! Mama mia! THE FUTURE! $spy
Clare Quilty
29 Aug 14 08:50:35
@JeffMacke has been bullish and right on $TSLA for a while now. After all, he is the expert on CAR PEOPLE !
WallStreet
29 Aug 14 08:50:29
$TSLA - Tesla Motors Inc (NASDAQ:TSLA) Strikes Accord With China Unicom On Charging Points For Its Vehicles - http://t.co/iwlC67hXyZ
MomentumpartnersLLC
29 Aug 14 08:50:17
$TSLA sorry my bad $260 plus $80 is $340 not $320 worked last 12 days staight....I am a little itred
Cesar
29 Aug 14 08:50:16
@JeffMacke @GuyAdami But the market got no VOLUME? $TSLA?
Carolyn B Miciano
29 Aug 14 08:49:14
How to construct a Bear Put spread trade http://t.co/SssrTHuoG8 $NFLX $PCLN $TSLA
Jeff Macke
29 Aug 14 08:49:05
Rejected #TrendingTickers pitch: "Put up the $TSLA chart and play this song for 90-seconds"... https://t.co/UlXyEoY2xZ
Gin Diesel
29 Aug 14 08:49:05
RT @2kaykim: $TSLA this was the chart we were looking at last night, looks like we've broken out of that "bull pennant" $290-$300 http://t.…
Gin Diesel
29 Aug 14 08:48:58
RT @Angel_Playas: $TSLA . they closed their factory for upgrade. Demand is double next year . Boom ! $TSLA http://t.co/FGDZXrnTbf
Gin Diesel
29 Aug 14 08:48:47
RT @technicalroom: It feels like $TSLA is under owned including myself-I only own it in my trading account...thinking of adding to both my …
MomentumpartnersLLC
29 Aug 14 08:48:43
$tsla longer view $320 IHS target via attached may not stop on lower sloped line given the IHS break http://t.co/4hMdb4Nphq
Gin Diesel
29 Aug 14 08:48:40
RT @ok_trader: $TSLA at new ATH
Gin Diesel
29 Aug 14 08:48:34
RT @newsomenuggets: $TSLA looks GORGEOUS. Either enter on the break out (at the end of day) or on the retest <which likely should happen> h…
Gin Diesel
29 Aug 14 08:48:20
RT @wugubob: Thank you $TSLA.
Gin Diesel
29 Aug 14 08:48:16
RT @Nysedaytraders: $TSLA is taking Short Sellers hostage!
Gin Diesel
29 Aug 14 08:48:10
RT @xvakero: new long $TSLA
nobullshytrader
29 Aug 14 08:48:03
$TSLA we're addin to our short @ 282.50 bigtime pleeze keep buyin thanx http://t.co/iR3zz7xiP3
Cutlass
29 Aug 14 08:45:37
RT @SwatOptions: $TSLA $SPY $IWM $NFLX $GS $LNKD with a special "short" theme "Speed of Pain" http://t.co/Mn3vxKm2om
Cutlass
29 Aug 14 08:45:21
RT @DGPSTweets: RE: $TSLA Oct 18 260 Calls 12.20 Now At 19.25 Whooo Whoo !!
lookn4wins
29 Aug 14 08:45:11
$WEAT Volume $WEAT Most recent stock chart and technical analysis. $C $BVN $XLB $ABX $TSLA $EPI http://stockch http://t.co/INXtvR1cx1
Carolyn Marshall
29 Aug 14 08:45:03
$TSLA looking for pass or fail at 272.5 then on to 273.65 ish where will exit other half. But trade is paid for now either way.
Bob L.
29 Aug 14 08:44:57
If $MBLY can be worth 9 billion, $TSLA certainly worth more than 4x.
Marlen
29 Aug 14 08:44:35
$AAPL Apple, $TSLA Tesla hit all-time highs; Avago $AVGO rallies on upgrade http://t.co/benOT8J18b
bose
29 Aug 14 08:44:28
RT @kiwitrader24: $TSLA closed 1/2 of the 272.5 calls at .68 for a double from .34 entry as posted at 10:50 ET
XVAKERO
29 Aug 14 08:44:25
new long $TSLA
Options Network
29 Aug 14 08:44:12
$TSLA $SPY $IWM $NFLX $GS $LNKD with a special "short" theme "Speed of Pain" http://t.co/Mn3vxKm2om
Carolyn Marshall
29 Aug 14 08:44:02
$TSLA closed 1/2 of the 272.5 calls at .68 for a double from .34 entry as posted at 10:50 ET
PtheGr8
29 Aug 14 08:43:57
$TSLA if brk above PRZ 30min, then refer to 60min chart previously posted http://t.co/obP7nhMRbE
NYSE Daytraders
29 Aug 14 08:43:42
$TSLA is taking Short Sellers hostage!
radarthis
29 Aug 14 08:43:39
RT @SwatOptions: Swat post ' $TSLA $NFLX $GS $LNKD bring the fireman... its HOT HOT HOT and we LOVING IT ' on http://t.co/PjXIp3NxsV http:/…
DGPSTweets
29 Aug 14 08:43:28
RE: $TSLA Oct 18 260 Calls 12.20 Now At 19.25 Whooo Whoo !!
Bob L.
29 Aug 14 08:43:10
Thank you $TSLA.
راليات الاوبشن
29 Aug 14 08:42:34
$AAPL $GOOG $PCLN $NFLX $FB #OPTIONS $TSLA $TWTR راليات مثيره في سوق الاوبشن للاشتراك ارسال رساله على الخاص
Ophir Gottlieb
29 Aug 14 08:42:20
$TSLA - Let Me Challenge Your Conviction If... You're a Bull or a Bear * 10 Charts http://t.co/xFzlAtIkcU
Zero Filter
29 Aug 14 08:42:11
$TSLA free $ mo whacks run wild; now 46x '16E which is > 5.5x '14E. How bad will sell on Giga / X be?? #cnbcfastmoney #jimcramer #zerohedge
Options Network
29 Aug 14 08:41:23
Swat post ' $TSLA $NFLX $GS $LNKD bring the fireman... its HOT HOT HOT and we LOVING IT ' on http://t.co/PjXIp3NxsV http://t.co/cvfABHbuPp
Jon Vince
29 Aug 14 08:41:10
RT @ok_trader: $TSLA at new ATH
Jerremy Newsome
29 Aug 14 08:40:53
$TSLA looks GORGEOUS. Either enter on the break out (at the end of day) or on the retest <which likely should happen> http://t.co/cmTOz8G80o
Day Traders Group
29 Aug 14 08:40:31
Bullish MACD Crossover Alerts http://t.co/quMVtJcVq2 $SCO $ANN $SPY $YHOO $AAPL $GPRO $TSLA $KNDI and more
راليات الاوبشن
29 Aug 14 08:40:19
$GOOG $PCLN $NFLX $FB #OPTIONS $TSLA $TWTR $AMZN 400% boooooooom
				
				
By  +Follow October 2, 2013 2:15PM
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