The TSX composite rose slightly, gaining 2.19 points to 12,959.40 in early trading on Thursday. The Dow was down 86.35 to 15,287.48, while NASDAQ slipped 11.21 to 3,828.22.
In the U.S. stocks investors will likely now focus on the extent of the budget impasse’s impact on economic growth and whether the Federal Reserve will delay plans for reducing unprecedented monetary stimulus.
Dagong Global Credit Rating Co., one of China’s four biggest credit rating companies, cut its sovereign rating for the U.S. to A- from A today, saying “such political environment over debt repayment renders the dim and pale prospect of the U.S. federal government’s solvency.”
The price of gold was up US$35.37 to US$1,317.72 an ounce, while silver climbed US$0.40 to US$21.81 an ounce.