There are no Dow stocks at 52 week highs. There are no Dow stock 52 week lows.

The Market

Monday the Dow closed down -128.57 (-0.84%) at 15,129.67.

Premarket, the Dow was indicated to open up +37 points.

Year-to-date the Dow is up +15.46%.

Congress failed to agree on a short term extension of government funding late Monday, initiating a series of complex procedures to power down the federal agencies. A government shutdown may cost the U.S. economy roughly $1 billion a week in pay lost by more than 800,000 furloughed federal workers.

There is also a separate battle in Washington to raise the debt ceiling, as failure to do so might leave the U.S. unable to pay its bills and hurt its credit rating.

Nike (NKE) was upgraded to “Buy” from “Hold” at Argus.

Merck (MRK) is up premarket after announcing this morning that it plans to cut another 8,500 jobs as part of a plan to reduce its annual costs by about $2.5 billion by the end of 2015.

European markets are higher and Asian markets ended mostly higher except exchanges in Hong Kong and Shanghai were closed for a holiday.

The national average price of gasoline is down six-tenths of a cent to $3.393 per gallon.

Earnings Reports

JPMorgan (JPM) will report earnings on 10/11/13 before the market open.

Former Dow stock Alcoa (AA) will report earnings on 10/8/13 after the market close.

Earnings reports from Monday include:

OMNOVA Solutions Inc. (OMN) reported EPS of $0.19 on revenue of $261.20 million, compared to last year’s EPS of $0.16 on revenue of $288.20 million.

Park Electrochemical Corporation (PKE) reported EPS of $0.29 on revenue of $45.00 million, compared to last year’s EPS of $0.28 on revenue of $46.43 million.

Other stocks expected to report earnings today include:

Actuant Corporation (ATU) is expected to report EPS of $0.76 on revenue of $1.71 billion, compared to last year’s EPS of $0.86 on revenue of $1.77 billion.

Sonic Automotive, Inc. (AH) is expected to report EPS of $0.50 on revenue of $2.27 billion, compared to last year’s EPS of $0.40 on revenue of $2.15 billion.

Walgreen Co. (WAG) is expected to report EPS of $0.72 on revenue of $17.95 billion, compared to last year’s EPS of $0.63 on revenue of $10.07 billion.

Today’s Featured Dow Stock

Nike Inc. (NKE)

Nike Inc. (NKE) is up +40.78 year-to-date.

Financial Calendar

1000 ET Aug construction spending expected +0.4%, July +0.6%.

1000 ET Sep ISM manufacturing index expected -0.6 to 55.1, Aug +0.3 to 55.7. Sep ISM prices paid expected +1.0 to 55.0, Aug +5.0 to 54.0.

1630 ET API weekly U.S. oil statistics.

1700 ET Sep total vehicle sales expected 15.65 million, Aug 16.02 million. Sep domestic vehicle sales expected 12.20 million, Aug 12.44 million.

1800 ET Fed Vice Chairman Janet Yellen speaks at the Economic Club of New York.