real-time news and commentary for investors
Monday, Oct 14
Stock futures sink on budget standoff
- Stock futures point sharply lower, with the S&P benchmark -0.7%, as political posturing in Washington seems to take priority over resolving the debt ceiling crisis, which is sure to mean more volatility in the days to come.
- The Fed seems likely to prolong its stimulus to offset damage from the D.C. standoff.
- Asian markets ended mixed while the Hang Seng and Nikkei exchanges were closed; European markets edged mostly lower.
- Gold futures climbed 1.3% to $1,285/oz. after falling last week to three-month lows, and crude oil futures slid 0.5% to $101.56; the Treasury market is closed for the Columbus Day holiday.