October 21, 2013- Stocks Flat After Recent Gains

The debt deal, although tenuous, added a spring to the steps of the markets in recent sessions. The recent run up is likely to render the mood cautious, as the markets await the next catalysts. The cautious mood is reflected by the trading in the index futures, which point to a slightly higher opening on Monday. Earlier in the global trading day, Asian stocks closed solidly higher, while the European markets are trading amid caution. Meanwhile, the domestic markets may react to a housing report and earnings from companies such as McDonald's (MCD) and Halliburton (HAL). The Dow futures are trading up 9 points, the S&P 500 futures are adding 0.80 points and the Nasdaq 100 futures are gaining 7 points. U.S. stocks advanced solidly in the week ended October 18th, as lawmakers finally agreed to end the impasse just before the debt ceiling deadline kicked in. The relief generated buying interest in the markets, sending stocks higher. With federal government re-opening following last week's compromise agreement, the focus shifts back to Main Street. Housing and job market reports are likely to predominate proceedings in the unfolding week.