Buy the rumor – Sell the news?

Index & Sector performance 10/16/13 The Market: Another strong day in the market sent the S&P 500 index over 23 points higher after a brief consolidation day yesterday.  What started as a small gap quickly ran in the first hour of trading eventually topping at 11:15 am EST.  The market then consolidated until 2:30 pm EST when it bottom and started a rally back toward the highs of the day.  Amidst a light economic data week, the news of Washington and the pending debt deal have continued to drive attention and trader reaction. Ahead of tomorrow’s Unemployment data (357K Consensus)…