Stock index futures suggest US stock markets are headed down 1-2 percent at the cash open this morning, mostly in response to valuation worries after the market's remarkable run to record highs, largely on the AI trade. Comments from the respective heads of Goldman Sachs and Morgan Stanley triggered a risk-off move as the two CEOs, appearing on a panel in Hong Kong, made the entirely reasonable suggestion that a correction of 10-15 percent over the next few years seemed likely and would be healthy, and would not alter the market outlook.

The US government partial shutdown that has halted release of most US government economic indicators has now extended to Canada. Canada's merchandise trade figures were due for release this morning at 8:30 am ET but Statistics Canada is obliged to delay the report because it counts on the US Census Bureau to provide data on Canada's exports to the US, its biggest trading partner.

Market Focus details key factors in the coming day that will impact the economic outlook and the financial markets. These include central bank events, economic indicators, policymaker speeches as well as expected political and corporate developments.

Keeping up-to-date with event schedules and the economic calendar is key to understanding the global financial system. Econoday's Market Focus allows investors and policymakers to carefully track what will be making news and moving the financial markets in the coming day.