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Wall Street makes tentative start to the week


Wall Street made a tentative start to the week as investors braced themselves for a busy week.

Having rode out the recent volatility caused by the government shutdown and the uncertain debt ceiling negotiations, investors are nervously awaiting delayed economic reports.

Today, the markets will weigh up home sales data and tomorrow the influential non-farm payroll employment statistics for September – originally due two weeks ago – are expected to be released.

At the same time America’s corporate earnings season is due to pick up over the next week or so.

On Monday, the focus was on burgers and TV. 

McDonalds Corp revealed it is still suffering inertia amid weak demand growth and increasing completion. It said that sales were flat at the start of the fourth quarter and this performance isn’t expected to improve before the year’s end.

Up and coming television and movie online streaming firm Netflix shares advanced as investors anticipated the news of a rise in paying subscribers during the third quarter.

New York listed German software firm SAP was also climbing as its profits met expectations in the third quarter and it unexpectedly stuck with its forecast for the full year.

The Dow Jones was down just 26 points, 0.17%, at 15,373 while the S&P 500 also slipped slightly lower to 1,740. The NASDAQ meanwhile was marginally higher at 3,917.

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