Markets Drop as Federal Shutdown Seems Imminent (JNJ, GOOG)

Stocks finish the week with a small dip into the red as oil and other commodities soar upward. The big economic news, as it has been much of the week, is the increasing possibility the federal government will shutdown if a revised budget is not agreed upon by the House and Senate. As the markets closed today, no agreement has been made although small steps have been made in the right direction. The deadline is 12:00 AM EST, and even is a deal is put in place, the bill has to be passed through the House and Senate, which can take some time. Despite the impact on employees, any potential shutdown is seen as temporary and markets have reacted by more or less ignoring the possibility.

Word on the Street

• Lack of progress on budgetary issues has raised the chances that the federal government will shutdown at midnight tonight.
• Johnson & Johnson (JNJ) agrees to pay $70 million to resolve bribery claims.
• Google (GOOG) agrees to antitrust deal and acquires ITA Software.
• Toyota’s (TM) North American factory production will decrease due to parts shortage.
• General Electric (GE) announced plans to build the largest solar panel plant in US history.
• Dish Network (DISH) purchases bankrupt Blockbuster in an attempt to gain entry into the streaming media market.

Interesting Tidbits

• Have a great entrepreneurial idea but need a partner? A new start up looks to combine entrepreneurship and speed dating.
• Is your products design falling flat on its face? Here’s five ways you’re not helping yourself.

VN:F [1.9.17_1161]