Sun, Oct 13, 2013 - Page 15 News List

Debt deal hopes fuel US stocks rebound

‘ALL’S GOOD’:Analysts said the markets were pricing in a resolution to the deadlock in Washington, while Janet Yellen’s nomination to lead the Fed also buoyed sentiment


The shutdown has pushed back releases of key economic data recently, including the monthly jobs report and retail sales. More delays are expected in the coming week, although the Fed is scheduled to release its Beige Book of economic indicators and the Conference Board Inc is also set to release its report on leading economic indicators.

The busy earnings calendar includes reports from leading technology companies, including Google Inc and Intel Corp, and top banks, such as Citigroup Inc and Dow component Goldman Sachs.

Still, analysts expect the focus to remain on budget talks. While stocks ended the week smiling, there could be more bumps ahead. The current proposal pushes the time-frame to the end of next month.

“There’s still a lot of work to be done,” Peterson said. “So I’m sure there’s going to be more volatility.”

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