Posted on 07/24/2011 4:04:19 PM PDT by camerongood210
S&P 500 futures fell at the open of electronic trading as investors grew increasingly worried at the lack of progress. The benchmark S&P was down 1 percent, or 14 points, to 1326.00.
Early currency trading suggested a move away from the dollar, with the biggest drop in the greenback coming against the Swiss franc. In early Asian trading, the dollar dropped to 0.8121 against the Swiss franc, down 0.7 percent.
(Excerpt) Read more at reuters.com ...
Looks like Obama didn’t get that crash he was hoping for. But of course Reuters is still in there pushing the panic button anyway.
FEAR NOT! The market will be delighted if fiscal restraint carries the day.
Keep the debt ceiling right where it is. Or lower it.........
The dollar isn’t down much right now. I think it will soften overnight, and that the S&P futures will strengthen. JMHO.
Yep, that’s the truth. US debt is riskier, so the dollar falls. And there’s no way out of that in the long run. Raise the debt ceiling, hike taxes, etc., and the fall will be much harder later on.
Actually without an increase in the debt limit the markets will go down to where they should be. The free money to banks is proping up the markets, with no more money the game is over, the markets will correct lower, where they belong....
Printing more money causes inflation, the first place you see inflation is on the markets....
Is Reuters reporting facts? Or desires. Sounds like they’re hoping the dollar will become worthless.
Notice how Mainstream Media is not saying anything about gold surging in their opening comments. They would not want to rain on Obama’s parade.
We can barely hear you in the back of the room...
no problem in Australia
http://money.cnn.com/data/world_markets/asia/
Oh man..Sri Lanka is having a HUGE problem...well..only down 1%
2008 all over again ;-)
http://www.bloomberg.com/apps/quote?ticker=CSEALL:IND
actually futures are low, but rising
up 30-50 points in the past 2 hours,
from -153 to -103
Boehner..you Chicken Little the Sky is falling so we must have a deal.
Japan’s number at the open
Sun Jul 24, 2011 8:07pm EDT
TOKYO, July 25 (Reuters) - The Nikkei average snapped a
three-day run of gains on Monday as a stronger yen dragged down
exporters, while investors stayed on the sidelines ahead of a
slew of earnings reports due later this week.
Analysts said falling U.S. futures also soured the mood as
the U.S. government’s failure to win an agreement on the debt
ceiling makes prospects of a default, once considered an
impossible outcome, more likely.
The Nikkei shed 0.5 percent to 10,081.81. The
broader Topix was down 0.4 percent to 865.26.
“Stock futures, dollar fall on no debt deal.”
I follow the markets pretty close, and at the end of some days, when the market has closed on a downward trend, some of the REASONS the commentators give for WHY it happened sound to me like something they sucked out of a bongpipe....just like the headline above!
The headline would have been just as credible, and maybe even closer to the mark if it had said: STOCK FUTURES & DOLLAR FALL AS AHMADINAJAD BREAKS WIND! ..OR....ON NEWS THAT HUGO CHAVEZ IS IMPOTENT! ...OR....AS BULLETINS REVEAL KIM JONG IL HAS STDs!
It would be a great and wonderful day if Boner, et al could have the intestinal and spinal fortitude to stand pat, defy Obluffer and Reid, et al; let August 2nd and August 10th come and go, with little more than a ripple in the world’s markets.
And THEN cut the crap and get to work slashing spending and assuring American businessmen that taxes will not be raised and that it is safe to crank up their businesses and start hiring again!
Obama tried to freak the markets. Asian investors didn't bite.
I fully expect he'll try to talk them into a panic more this week.
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