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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
WallStreet_3.0
25 Jan 15 15:50:07
RT @IronMillTech: At 55K miles #Tesla range dropped from 245 to 193. @TeslaMotors say it's normal & not covered by warranty #EV $TSLA http:…
Realist
25 Jan 15 15:43:05
RT @IronMillTech: At 55K miles #Tesla range dropped from 245 to 193. @TeslaMotors say it's normal & not covered by warranty #EV $TSLA http:…
Mehmet F. Dicle
25 Jan 15 15:41:12
RT @IronMillTech: At 55K miles #Tesla range dropped from 245 to 193. @TeslaMotors say it's normal & not covered by warranty #EV $TSLA http:…
Realist
25 Jan 15 15:35:54
RT @Bidnessetc: Trip Chowdry says the company’s stock is slipping due to delayed deliveries of the P85D http://t.co/1ydI9AOCCA $TSLA http:/…
Diogenes
25 Jan 15 15:35:18
@TeslaAgnostic Would seem to imply a lot more Gigafactories in our future, with that payback. $TSLA
Mark B. Spiegel
25 Jan 15 15:29:13
@TeslaAgnostic My new name for him is "LSD Trip" Chowdry. $TSLA
Mark B. Spiegel
25 Jan 15 15:22:43
@TeslaAgnostic Oh, I got the reference... We'll officially know it's "game over" when $TSLA opens a South Sea showroom!
TSLA Speedreader
25 Jan 15 15:21:28
$TSLA #Tesla This Is What It's Like To Drive The Tesla Model S And The New 'D' On The Same Day http://t.co/UcNL4EFKsi
Financial BUZZ Just-
25 Jan 15 15:21:25
Gain from movement in these buzzing assets $IBM EUR/GBP $TSLA USD/JPY EURUSD http://t.co/OAfRrZLKly
Mark B. Spiegel
25 Jan 15 15:16:49
@TeslaAgnostic If $TSLA "stopped spending money to grow" the stock would collapse to a non-growth multiple. There's no business model here.
Diogenes
25 Jan 15 15:14:38
RT @TeslaAgnostic: So at last here is my take on $TSLA cashflow, rapid deterioration is the name of the game http://t.co/o3xbAk8nCM
Mehmet F. Dicle
25 Jan 15 15:12:59
Syriza majority = EU down = Markets down = $TSLA down. IMHO
Lusitanian Traders
25 Jan 15 15:12:04
TSLA - Technical Analysis ( Daily) $TSLA http://t.co/nzAdku9qMy
Realist
25 Jan 15 15:09:53
So at last here is my take on $TSLA cashflow, rapid deterioration is the name of the game http://t.co/o3xbAk8nCM
Kevin Sharpe
25 Jan 15 14:49:43
At 55K miles #Tesla range dropped from 245 to 193. @TeslaMotors say it's normal & not covered by warranty #EV $TSLA http://t.co/kYojwjmduM
Mehmet F. Dicle
25 Jan 15 14:42:21
RT @TeslaAgnostic: $TSLA S60 Price in Germany at launch: 72k€,Euro: ca. 1,35 Since today: S60 Price 67.900€, Euro at 1,12 Dollar price down…
tradewithjoe
25 Jan 15 14:36:09
@jotiavionica @ruth_greene $TSLA chart still in play here. http://t.co/eA1sYD0CDv
tradewithjoe
25 Jan 15 14:35:38
@jotiavionica @ruth_greene Here $TSLA chart still in play. http://t.co/Vxco4IvQcg
Mark B. Spiegel
25 Jan 15 14:34:57
@TeslaAgnostic Musk will waste $$ until the markets cut him off. He's a dreamer who needs a financial boss that his ego can't handle $TSLA
OM_giveaways
25 Jan 15 14:27:06
Top 5 Stocks of 2015 Free HD Video!!!! $GOOGL $AAPL $TSLA $SSYS $VXX $VIX $SPY $SPX #stocks http://t.co/vG4ZFnz7JJ http://t.co/WSGXEJIKoT
Mark B. Spiegel
25 Jan 15 14:23:15
Financial non-discipline in action: $TSLA is a company with just 1 model (2 including the X) costing $100k each https://t.co/uNNbiipWWA
Sufiy
25 Jan 15 14:03:57
RT @kirillklip: Kirill Klip.: Mass Market for #EVs - Electric Cars Charge From German Lamp-posts. http://t.co/mfVHxSJoJK $TRRXF $ILHMF $LIT…
Sufiy
25 Jan 15 13:53:52
RT @ILCtsxv: Kirill Klip.: Mass Market for #EVs - Electric Cars Charge From German Lamp-posts. http://t.co/JLgPqZxCV4 $TRRXF $ILHMF $LIT $T…
Sufiy
25 Jan 15 13:48:57
RT @ILCtsxv: #LG Chem is building its #Lithium Megafactory to meet to rising #EV demand in China https://t.co/Qf3uLPflqg $LIT $ILHMF $TSLA …
InternationalLithium
25 Jan 15 13:34:19
Kirill Klip.: Mass Market for #EVs - Electric Cars Charge From German Lamp-posts. http://t.co/JLgPqZxCV4 $TRRXF $ILHMF $LIT $TSLA
Dave Neville
25 Jan 15 13:25:15
$TSLA factory http://t.co/gjfb50iUez
Jeff Davis
25 Jan 15 13:20:54
RT @TeslaAgnostic: $TSLA S60 Price in Germany at launch: 72k€,Euro: ca. 1,35 Since today: S60 Price 67.900€, Euro at 1,12 Dollar price down…
Corey Psoinos
25 Jan 15 13:10:22
RT @CalvinKlesmith: Video of #Tesla #Gigafactory progress! $TSLA @InsideEVs @AmazingChevVolt @AtlantaEV @zshahan3 @danielsparks https://t.c…
Stock Hobbit
25 Jan 15 13:06:07
What #sector will you #invest in today? http://t.co/v1eaRRes2Y $TSLA $SINA $GRMN $SSYS http://t.co/jFRKjLKwcA
Kirill Klip
25 Jan 15 13:05:31
Kirill Klip.: Mass Market for #EVs - Electric Cars Charge From German Lamp-posts. http://t.co/mfVHxSJoJK $TRRXF $ILHMF $LIT $TSLA
Ross Gerber
25 Jan 15 12:54:10
@AdamSinger that's true. Super warm here today. But violence supported by gas rich despots is worse. Got to love tesla. $tsla
Tesla Pittsburgh
25 Jan 15 12:44:10
RT @CalvinKlesmith: Video of #Tesla #Gigafactory progress! $TSLA @InsideEVs @AmazingChevVolt @AtlantaEV @zshahan3 @danielsparks https://t.c…
The Stock Professor
25 Jan 15 12:42:49
#Stock #News The Sorry State of Sam's Club, and Why Wal-Mart Stores, Inc. Can't Give Up o... http://t.co/QIw1MZCReT $MU $MSFT $TSLA $AMD
Andreas Nystedt
25 Jan 15 12:27:49
“@CalvinKlesmith: Video of #Tesla #Gigafactory progress! $TSLA @bylvisaker https://t.co/zSiZidjepq”
OM_giveaways
25 Jan 15 12:24:05
Top 5 Stocks of 2015 Free HD Video!!!! $GOOGL $AAPL $TSLA $SSYS $VXX $VIX $SPY $SPX #stocks http://t.co/vG4ZFnz7JJ http://t.co/LxHtMPBb0a
Stock Rocket
25 Jan 15 12:21:20
Our Penny Stock Picks Gained 968% In 5 Weeks! Get Our Next Pick Early: http://t.co/wMEn6i1tkM $CMS $MOS $TSLA
Hung Tran, MS, MD
25 Jan 15 12:17:07
FFT: Think more simple but not be simple minded. Electric vehicles all boils down Faraday's "Law of electrical induction" $TSLA
Kevin Sharpe
25 Jan 15 11:58:06
Correction or crash? Our verdict on #Tesla http://t.co/TIPwJLFuN6 via @wallstdaily $TSLA #EV http://t.co/dBEwXIhao2
The Stock Professor
25 Jan 15 11:53:07
#Stock #News Microsoft's Xbox One Makes a Comeback: Price makes all the difference. Micr... http://t.co/6TvjmZQzDl $MU $MSFT $TSLA $AMD
Sufiy
25 Jan 15 11:52:53
RT @ILCtsxv: Electric Cars in #China: Charging Stations Built Along Beijing-Shanghai Route. https://t.co/vnukZVF1mF #EV $ILHMF $LIT $TSLA
Future Tech Investor
25 Jan 15 11:42:03
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TRADE SURF
25 Jan 15 11:41:50
@CalvinKlesmith @InsideEVs @AmazingChevVolt @AtlantaEV @zshahan3 @danielsparks $tsla SPEND SPEND SPEND money you don't have.....
Данило Шаповал
25 Jan 15 11:41:01
RT @SciencePorn: Best Tesla plate? $TSLA http://t.co/iWvKipKu6x
Future Tech Investor
25 Jan 15 11:38:51
$MXWL chart bottom? $TSLA $TTM $KNDI $F $GM $BA $GG $HPQ $YY $EJ $S $T $JD $WB $DIS $DDD $XONE $Z $LNG $ZU $CMG $LOCO http://t.co/rug3PeEUfT
Future Tech Investor
25 Jan 15 11:33:50
$MXWL Possible bottom here. $TSLA 's Musk claims Ultracapacitors are the future and $MXWL has 100+ patents http://t.co/KsXFKcPwLn
The Stock Professor
25 Jan 15 11:22:18
#Stock #News In Case You Missed It, This New Marijuana Study Has a Smoking Revelation: So... http://t.co/78nELt4Aci $MU $MSFT $TSLA $AMD
jitrix
25 Jan 15 11:08:50
RT @ILCtsxv: #LG Chem is building its #Lithium Megafactory to meet to rising #EV demand in China https://t.co/Qf3uLPflqg $LIT $ILHMF $TSLA …
PolgarStocks
25 Jan 15 10:52:15
$VIICQ Opinions Updated Sunday, January 25, 2015 1:07:00 PM $DXD $TSLA $MKC $QLD http://t.co/HquPbi5Vqi
Mark
25 Jan 15 10:39:49
RT @CalvinKlesmith: Video of #Tesla #Gigafactory progress! $TSLA @InsideEVs @AmazingChevVolt @AtlantaEV @zshahan3 @danielsparks https://t.c…
James DiPlata
25 Jan 15 10:39:21
RT @StocksThatDoubl: PHENOMENAL stock trade alerts http://t.co/T9zutL79nE $CDTI +40% http://t.co/AzWPki9jeI $CVX $CSCO $BABA $TSLA $VZ $PFE…
				
				
By  +Follow October 2, 2013 2:15PM
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