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Market overview: Investors still optimistic on debt-ceiling standoff

0830: UK stocks have begun the day moving slightly lower, following downbeat results out of US chip maker Intel overnight and with the most recent news-flow indicating that Fitch ratings has put the United States’ long-term credit on ‘ratings watch negative,’ although there is still optimism in markets as regards the negotiations on Capitol Hill. At 09:30 labour market data are released by ONS. The focus will be the ILO unemployment rate for August, which the consensus expects to be unchanged at 7.7%, but there is a real risk of another further small drop, Barclays Research explains. US equity futures are now pointing to early gains on Wall Street opens of approximately half a percentage point on average. FTSE 100 down 15 to 6,534.

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