Futures gap down in opening trades


With last week's hopes for a weekend budget/debt limit deal dashed, S&P 500 (SPY) futures tumble 0.85% in opening Sunday evening trades. DJIA (DIA-0.75%, Nasdaq 100 (QQQ-0.8%.

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Comments (64)
  • Ted Bear
    , contributor
    Comments (704) | Send Message
     
    I wonder, when two politicians lie to each other about promises which they never intend to keep, if it feels just like when a politician lies to his constituency?

     

    Or are the politicians so used to lying that neither believes anything the other says to begin with ?

     

    Way back on Friday the politicians told us they were close to a deal, had agreed on the major issues, and were just haggling over the minutiae.

     

    Turns out, they....well.....were lying.
    13 Oct 2013, 06:34 PM Reply Like
  • pmiller100
    , contributor
    Comments (358) | Send Message
     
    Actually, I don't recall hearing they were all that close in the news, and wondered why the markets were shooting up as emphatically as they were on Thursday. And then Friday, I was fairly certain we'd give some back, but markets went up more. All that changed was some of the acrimonious tone, with news that some congressmen were visiting the White House. I never heard a deal was close.
    13 Oct 2013, 06:56 PM Reply Like
  • peter9810
    , contributor
    Comments (88) | Send Message
     
    I'll venture to guess #2.
    13 Oct 2013, 07:20 PM Reply Like
  • Fanebrb
    , contributor
    Comments (664) | Send Message
     
    The deal they close to... = was going to the men's room.
    14 Oct 2013, 12:59 AM Reply Like
  • lpcongas99
    , contributor
    Comments (241) | Send Message
     
    Really, does anyone think Obama even cares? Any one here who voted for him, don't complain
    13 Oct 2013, 06:39 PM Reply Like
  • CanadaPhil
    , contributor
    Comments (85) | Send Message
     
    And anyone who elected republicans, don't complain either?... This isn't a one sided problem. Both sides have not been actually interested in working with each other. Republicans wasted time by trying to slash into Obamacare despite Obama being re-elected on this very program, and Democrats then also delayed by wanting a deal without any compromise. This just shows that the US can barely be governed at the moment. A clear republican or democrat majority would have been much better than this total mess.
    13 Oct 2013, 07:00 PM Reply Like
  • pmiller100
    , contributor
    Comments (358) | Send Message
     
    As a conservative-leaning independent, who is more comfortable generally speaking voting for Republicans than Democrats, I have to say this immediate crisis is owned by the GOP. They planned for and ensured the crisis would happen, because they thought they could get something for taking the country to the brink. Now that we're on the brink, we're left hoping that the handful of truly embarrassing Republican congressmen who don't seem to have the foggiest understanding about the impacts of a default can be reigned in or by-passed by actual adults in that party.
    13 Oct 2013, 07:54 PM Reply Like
  • Island_Dweller
    , contributor
    Comments (649) | Send Message
     
    The healthcare bill has been signed into law, vetted by the Supreme Court to be constitutional, and yet the GOP's moves until now has been anything but healthy for the country. They have to "save face" here by blocking a law that has the potential to improve the country because if it does, guess who gets the credit. Obama's administration doesn't have to negotiate anything, it's law -- the end. So what we are seeing here unfold is a broken political system that's become a world wide joke.

     

    From an investor's perspective, this either presents an opportunity or it doesn't. If you're innately idealistic and apply this way of thinking to your investment decisions, turning a profit is probably quite elusive. Natural disasters, mass layoffs, political turmoil, lawsuits, and so on presents potential profits. It's cold, it's callous, and it's profitable.
    13 Oct 2013, 08:12 PM Reply Like
  • Energysystems
    , contributor
    Comments (2113) | Send Message
     
    Obama was re-elected on this very program? Says who?
    13 Oct 2013, 09:48 PM Reply Like
  • Philip Marlowe
    , contributor
    Comments (1583) | Send Message
     
    Obviously this is not Obama's fault. He is not supposed to give in to blackmail. Especially since all they are offering is that if Obama makes a bunch of concessions they will only delay the whole thing to thanksgiving when the whole drama will start again.

     

    No matter how hard you try to lie and make excuses this is the fault of the Republican congressmen that are doing this. They have a duty to their country. They cannot possibly say "we will destroy your country if we do not get what we want wah wah wah."
    13 Oct 2013, 10:10 PM Reply Like
  • chriff
    , contributor
    Comments (117) | Send Message
     
    The American people, when Romney and the GOP ran on a platform of "we will win both houses of Congress and the Presidency and repeal Obamacare." And then they lost 2/3, and the third they only won due to favorable districts but lost in an overall popular vote.

     

    And now all this minority has left is threatening to bring down the entire country until their demands are met. It's sickening that they would do that, but unfortunately they are just entirely too self-involved and plain stupid to understand anything anymore.
    13 Oct 2013, 10:17 PM Reply Like
  • Fanebrb
    , contributor
    Comments (664) | Send Message
     
    Of course he doesn't care. No matter what, he lives like a king for 3 more years. It's all about him ! Read my book.
    14 Oct 2013, 01:05 AM Reply Like
  • weimar9
    , contributor
    Comments (4) | Send Message
     
    I've been thinking along the same lines. When that goofball congressman said that the republicans have to get something from this, but he has no idea what, I thought the stupidity hit an all time high in american politics. Right then and there I figgered this mess will last to the last desperate moment. Personally, I love seeing the republicans giving the majority back to the Dems. I took everything out of the market on Friday just in case the blockheads stayed stubborn.
    14 Oct 2013, 01:51 AM Reply Like
  • minecanary
    , contributor
    Comments (1281) | Send Message
     
    Looks like the Fed will have to slam gold w/about a 30 mill oz sale tomorrow to keep it from rising
    13 Oct 2013, 06:50 PM Reply Like
  • labas112
    , contributor
    Comments (520) | Send Message
     
    Are the market open monday for Columbus Day?
    13 Oct 2013, 06:58 PM Reply Like
  • fiveoh
    , contributor
    Comments (172) | Send Message
     
    Yes
    13 Oct 2013, 06:58 PM Reply Like
  • peter9810
    , contributor
    Comments (88) | Send Message
     
    Stocks Yes
    Treasury Mkt. NO.
    13 Oct 2013, 07:22 PM Reply Like
  • Fanebrb
    , contributor
    Comments (664) | Send Message
     
    Not any more, because BO now claims HE discovered "America" and he will be shooting skeet, playing golf and/or lunching w/Susan Rice and stuff.
    14 Oct 2013, 01:13 AM Reply Like
  • Brad Kenagy
    , contributor
    Comments (2942) | Send Message
     
    Waiting for a retest of the October 9th low @1646 or a significant break below to possibly get back in.
    13 Oct 2013, 07:05 PM Reply Like
  • Lakeaffect
    , contributor
    Comments (1466) | Send Message
     
    TBTF banks are positioned for a few days default in treasuries. This will drive the market crazy. I wonder how many of our politicians are playing the options markets on these swings that are of their own making? Remember when everyone was all worked up about terrorist organizations possibly shorting airline stocks just prior to 9/11?
    13 Oct 2013, 07:29 PM Reply Like
  • tunaman4u2
    , contributor
    Comments (3489) | Send Message
     
    500 points on the DOW since the hope rally so .85% aint bad
    13 Oct 2013, 08:16 PM Reply Like
  • Tack
    , contributor
    Comments (16403) | Send Message
     
    This is disappointing. Can't we get a genuine panic so some real bargains will appear?
    13 Oct 2013, 08:48 PM Reply Like
  • GGjr
    , contributor
    Comments (1800) | Send Message
     
    I was thinking the same thing.
    13 Oct 2013, 09:00 PM Reply Like
  • Philip Marlowe
    , contributor
    Comments (1583) | Send Message
     
    If we get a genuine panic it is not necessarily bargains that will appear. Just because stocks go lower does not make them bargains. If people get scared and pull in spending again, it could be 2009 all over again and a lot of companies will see lower revenues and thus lower intrinsic values.

     

    This helps no-one.
    13 Oct 2013, 10:29 PM Reply Like
  • mitrado
    , contributor
    Comments (2033) | Send Message
     
    Looking at annual revenues and profits from big sharks like Coca-Cola, Kraft, Pepsico... among others, you'd never say there was any kind of crisis. Strange life, eh?
    14 Oct 2013, 03:22 AM Reply Like
  • GGjr
    , contributor
    Comments (1800) | Send Message
     
    @phillip - "This helps no-one."

     

    if you were in the can kicking business you'd be raking it in. :)

     

    If you have not listed to the latest Schiff video blog you might give it a listen.

     

    Personally I wish the debt ceiling was never raised again and we lived within our income.. but I know it will never happen voluntarily.
    14 Oct 2013, 09:54 AM Reply Like
  • Philip Marlowe
    , contributor
    Comments (1583) | Send Message
     
    GGjr - you should have thought about this last time we had a war. I seem to remember during the marketing campaign for the Iraq war the same Republican talking heads were saying that deficits do not matter.

     

    Fact of the matter is we had surpluses under Clinton and if we kept things along the lines of the Clinton administration we would have been well on the way of paying back the debt by now.

     

    But instead we had a Republican revolution in which the "small government" Republicans caused an incredible increase in government spending and brought back deficits.

     

    The debt can be handled if we (1) support our economy and (2) do not get into stupid wars. In fact if you look at the history of america and debt in the 20th century you will see that every spike in our debt is associated with a war of some kind (assuming you count the cold war as a war).
    14 Oct 2013, 12:00 PM Reply Like
  • m122369
    , contributor
    Comments (29) | Send Message
     
    You are right about a lot of things, but remember every election since 2006 has cycled through republicans. A lot of these house republicans are not the same ones from the Bush years. The "small government" ideas were lost and that gave rise to the Tea Party which has been trying to hold republicans accountable since then. Its too easy to spend money, and too difficult to cut spending. With out accountability they'll just spend spend spend.
    14 Oct 2013, 12:52 PM Reply Like
  • GGjr
    , contributor
    Comments (1800) | Send Message
     
    last time we had an official war the debt "ceiling" was 10 Trillion lower. At this point it can never be repaid, and we are lucky to be able to roll it over every month as portions of it come due.

     

    When the interest rate is back to the median for the last 30-40 years of ~6% do you think we will still have a budget that consists of anything other than entitlements and debt payments??
    14 Oct 2013, 01:00 PM Reply Like
  • anarchist
    , contributor
    Comments (1982) | Send Message
     
    Tack and GGjr, this may just be the beginning if these clown can't come to some kind of an agreement in the next day or two. Unless you guys are completely in cash then you might look back on a 0.85% drop as the "good ole days".
    13 Oct 2013, 09:08 PM Reply Like
  • Tack
    , contributor
    Comments (16403) | Send Message
     
    an:

     

    On the first dip, I made 225% on some SPY puts in seconds, at the open. One doesn't need to be in cash to hedge (or just make easy free money, as I like to think of it).
    13 Oct 2013, 10:05 PM Reply Like
  • GGjr
    , contributor
    Comments (1800) | Send Message
     
    One does not have to be an anarchist to make $ from a "blood in the streets" situation, just nimble, and not married to a position, plus it helps to have more than one way to play it.

     

    I'm good either way it goes although I'm positioned at the moment to take advantage of a dip - and it would be great to get some good stocks at a nice "fear based" more than a dip discount.

     

    Q: What happened last time stocks dropped 50%?
    A: They came back 150%.

     

    If you do not have to sell to eat then why would you freak out if the market value dropped temporarily?
    13 Oct 2013, 11:09 PM Reply Like
  • mitrado
    , contributor
    Comments (2033) | Send Message
     
    Except RIM, HPQ, SPLS, among others who have never recovered. Ever.
    14 Oct 2013, 03:24 AM Reply Like
  • GGjr
    , contributor
    Comments (1800) | Send Message
     
    @mitrado -

     

    OK and were they the only three stocks you owned? All of mine came back.
    14 Oct 2013, 12:55 PM Reply Like
  • mitrado
    , contributor
    Comments (2033) | Send Message
     
    Me... owning RIM? Sorry but you must be looking at a different person. I think the guy's name is Cramer, Jim Cramer. :-P
    15 Oct 2013, 04:06 AM Reply Like
  • 1980XLS
    , contributor
    Comments (3360) | Send Message
     
    Don't worry. The debt is infinitely sustainable.

     

    Ignore it, and things can go on as they always have. They told me that on MSNBC.
    13 Oct 2013, 09:28 PM Reply Like
  • mitrado
    , contributor
    Comments (2033) | Send Message
     
    Without debt there is no cash. Without cash there is not debt.
    14 Oct 2013, 03:24 AM Reply Like
  • RS055
    , contributor
    Comments (5604) | Send Message
     
    Best guess - no deal through Thursday - Friday crash. Weekend panic meetings - resolution happens before Nov 1. Rally on.
    Just a guess!
    13 Oct 2013, 09:29 PM Reply Like
  • Terry330
    , contributor
    Comments (881) | Send Message
     
    Its called "Tea Party Tax".
    13 Oct 2013, 09:49 PM Reply Like
  • Grand Nagus Kelly
    , contributor
    Comments (1837) | Send Message
     
    In defense of my democratc party, we do a lot better job controlling our kooks like Kucinich and keeping their numbers down. OWS didn't hijack my party as the tea party did the GOP. Not that that's a good thing as maybe we could use some occupying, but still. Control your kooks GOP. Boehner is a joke.
    13 Oct 2013, 09:59 PM Reply Like
  • caupachow
    , contributor
    Comments (524) | Send Message
     
    Boehner doesn't have the nads to belong to the Tea Party. He and McCain are the spineless kooks. I being a Republican have only voted for a democrat 4 times in my life, Bob Graham, John McCain, Charlie "the flipping turncoat" Crist and Mitt Romney. I feel good that I only gave money to one of their campaigns.
    13 Oct 2013, 11:37 PM Reply Like
  • Fanebrb
    , contributor
    Comments (664) | Send Message
     
    Huh ?
    14 Oct 2013, 01:18 AM Reply Like
  • Fanebrb
    , contributor
    Comments (664) | Send Message
     
    A sucker born every minute !
    14 Oct 2013, 01:20 AM Reply Like
  • fafatooey
    , contributor
    Comments (435) | Send Message
     
    Nice job "controlling" your #1 nutbar kook, Obama.
    14 Oct 2013, 02:08 AM Reply Like
  • Wahoo82
    , contributor
    Comments (47) | Send Message
     
    I hope the whole economy crashes so all you libs lose your retirement savings.
    13 Oct 2013, 10:44 PM Reply Like
  • Grand Nagus Kelly
    , contributor
    Comments (1837) | Send Message
     
    You'll be going with us Wahoo. Genius comment pal.
    13 Oct 2013, 10:50 PM Reply Like
  • GGjr
    , contributor
    Comments (1800) | Send Message
     
    Maybe he's (Wahoo) short the market. Then he'd have his cake and yours.
    13 Oct 2013, 11:01 PM Reply Like
  • Grand Nagus Kelly
    , contributor
    Comments (1837) | Send Message
     
    Just as likely some deal, no matter how silly, is reached and markets go way up. Crap shoot man.
    13 Oct 2013, 11:35 PM Reply Like
  • Fanebrb
    , contributor
    Comments (664) | Send Message
     
    It will crash 0n 3/30/14 @ 1301.
    14 Oct 2013, 01:24 AM Reply Like
  • vindex
    , contributor
    Comment (1) | Send Message
     
    Unintended consequences require intentional action not playing the blame game. The required action for getting out of the fiscal mess we are in is simple. However the political will to implement it requires putting the greater good ahead of personal gain.
    13 Oct 2013, 11:19 PM Reply Like
  • GGjr
    , contributor
    Comments (1800) | Send Message
     
    @vindex

     

    then it will never happen. :)

     

    position yourself accordingly.
    13 Oct 2013, 11:28 PM Reply Like
  • Andysud
    , contributor
    Comments (273) | Send Message
     
    This is the Tea Party shutdown. No doubt about it. The GOP engineered and implemented it as an attempt to extort Obama. He doesn't negotiate with terrorists. I say try the Tea Party caucus for sedition and if found guilty, hang em high.
    14 Oct 2013, 12:35 AM Reply Like
  • Patent News
    , contributor
    Comments (1475) | Send Message
     
    indeed sir.

     

    tea party will lose many elections regardless of outcome they are screwed!!
    14 Oct 2013, 12:49 AM Reply Like
  • Mattster
    , contributor
    Comments (165) | Send Message
     
    Not sure tea party constituencies will change their minds but many good republican congressmen and women will lose their seats because of them
    14 Oct 2013, 12:55 AM Reply Like
  • m122369
    , contributor
    Comments (29) | Send Message
     
    The Tea Party aligned members were democratically elected. I think its funny how democrats a republicans want to use the few Tea Party members as a scape goat. Americans should be proud and envious of a third party getting its ideas into the main stream. A third part holding republicans accountable and challenging the establishment. One word of advice on hanging the Tea Party members. You better take away our guns first. Its people like you who may just be jesting, but people like you why we want our guns. If the liberal mood is already so angry and violent towards Tea Partiers, how will it be in 20 or 30 years? Obviously there is some justification in wanting to defend ourselves from the liberal animals. Most of the greatest atrocities in the last 150 years have been backed by Liberal ideals.
    14 Oct 2013, 01:29 AM Reply Like
  • Grand Nagus Kelly
    , contributor
    Comments (1837) | Send Message
     
    I was ready to leave this thread till I read your comment M. What the heck are you talking about?
    14 Oct 2013, 07:37 AM Reply Like
  • Andysud
    , contributor
    Comments (273) | Send Message
     
    M's rant is the perfect time for me to leave this thread. The tin foil, tricorner hat contingent has arrived. Sell her some gold and bullets and maybe she'll go away.
    14 Oct 2013, 08:34 AM Reply Like
  • lpcongas99
    , contributor
    Comments (241) | Send Message
     
    yes he does negotiate with terrorists you moron..In fact he negotiates with terrorists more than american politicians whom he is suppose to work with.
    Iran, Muslim Brotherhood. Hell he more than anyone has used his power to overthrow 2 muslim countries but thats ok?

     

    Control the Kooks of the party? Yours got elected
    14 Oct 2013, 11:39 AM Reply Like
  • m122369
    , contributor
    Comments (29) | Send Message
     
    I'm a male. Thank you for your constructive comment.
    14 Oct 2013, 01:09 PM Reply Like
  • m122369
    , contributor
    Comments (29) | Send Message
     
    I'm responding to this "I say try the Tea Party caucus for sedition and if found guilty, hang em high.", written by Andy. Which point would you like me to expand on? First, he insinuates that the Tea Party is a rouge element going against their constituents. Then he suggest violence towards their members.
    I'm 1: pointing out that they were democratically elected.
    I'm 2: pointing out that an escalation of violence would end poorly for liberals.
    I'm 3: Taking the liberty to mention the Tea Party's achievements(circumven... the 2 party system and holding republicans accountable.
    I'm 4: Pointing out the hypocrisies of liberalism. Hitler's party name, The Germans Workers Party sounds like a good union name doesn't it?

     

    I love how liberals never have anything constructive to add to a debate. They either claim the other person is lying, or they resort to name calling or patronizing. Example 1. Your comment. Example 2. Andysud's reply.
    14 Oct 2013, 01:12 PM Reply Like
  • peter9810
    , contributor
    Comments (88) | Send Message
     
    When will we draw the line?
    US debt costing $35bil / month with the Ten Year @ 2.6%.
    What happens when rates go to 6% ??????????
    14 Oct 2013, 11:17 AM Reply Like
  • peter9810
    , contributor
    Comments (88) | Send Message
     
    Romney

     

    Mitt Romney Was Right, President Obama Doesn't Work
    14 Oct 2013, 11:19 AM Reply Like
  • lpcongas99
    , contributor
    Comments (241) | Send Message
     
    that was my point as well.............Obama is not even acting like the leader of a pop warner team

     

    He is the POTUS for christs sake. Where is the leadership??
    15 Oct 2013, 03:27 PM Reply Like
  • mitrado
    , contributor
    Comments (2033) | Send Message
     
    Oh, please. Democrats and Republicans are working together. Ignore the show off for the public and mainstream media: http://bit.ly/H2bInT
    15 Oct 2013, 05:38 PM Reply Like
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