Standard Poor

Standard Poor: The TSX registered a small gain while New York lost ground last week as traders worried about the economic damage that would result if Congress fails to pass a funding bill to keep the U.S. government operating after Oct. 1, when its new fiscal year starts. Also, the U.S. borrowing limit needs to be raised before Oct. 17. , according to Winnipeg Free Press. Along with the potential of a stalled an economy still recovering from the 2008 crash, indexes were hard hit then as traders worried about a possible default. And Standard Poor's ended up downgrading the U.S. credit rating before a political compromise was reached. TORONTO - Traders will be treading cautiously at the start of the trading week as a shutdown of the U.S. government looms in the absence of a budget deal between the White House and conservative Republicans, who see the impasse as a way of defunding Obamacare. The gridlock brought back memories of August 2011, when Democrats and Republicans locked horns over raising the debt limit. (www.immigrantscanada.com). As reported in the news.