The Senate has rejected the House bill, and the government will shut down at midnight if the House doesn’t submit a “clean” bill with ObamaCare issues removed.  The current thinking is that is unlikely.  What is more likely is a day or week extension to allow time for more negotiating (as if any has really taken place).  How will the market react?

Today’s market opened up a tad on positive action from Asian and European markets; however, the pangs of last week’s painful performance took hold and the S&P 500 fell as much as 0.7%.  Earnings and revenues for Caterpillar (CAT) were below estimates causing investors to recall flat to poor results from General Electric (GE), International Business Machines (IBM) and McDonalds (MCD) on Friday.  Then, shortly into today’s session, Existing Home Sales o