It’s over…for now. President Obama signed a deal late last night to end the partial government shutdown. The market recovered all morning losses causing a re-price for the better. Investors flooded back to the market bringing trading levels back to normal. Adding to the rally were comments in the Fed’s Beige Book that stated, “the economy grew at a modest to moderate pace.” This suggests tapering will be delayed until the first quarter of 2014. Initial Jobless Claims will be out at 8:30, which is expected to show a decline from the previous month. 10 AM the October Philly Fed and Freddie Mac’s weekly mortgage rate survey will be released.
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