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Morning Market Roundup: Sequester? What Sequester?

Feb. 25, 2013 9:31am Becket Adams

Here’s what’s shaking:

Stocks:

Morning Market Roundup: Sequester? What Sequester?

Getty Images

U.S. stock futures are rising even with automatic budget cuts just days away, should a political impasse in Washington not be resolved.

Dow Jones industrial futures are up 62 points to 14,043. The broader S&P futures have added 8.2 points to 1,522.80. Nasdaq futures are up 21.75 points to 2,757.50.

Leaders from both parties sought over the weekend to blame each other for $85 billion in budget cuts that will kick in Friday if no new agreement is reached, threatening everything from the nation’s airlines to its schools.

Driving futures higher are strong U.S. corporate earns and buyouts.

Oil:

Getty Images

The price of oil rose by more than a dollar Monday, to above $94 a barrel, as it recovered from sharp drops last week and echoed strong gains in European stock markets.

By early afternoon in Europe, benchmark crude for April delivery was up $1.11 to $94.24 a barrel in electronic trading on the New York Mercantile Exchange. The contract rose 29 cents to settle at $93.13 in New York on Friday.

Oil dived last week on the possibility that the Federal Reserve might stop offering monetary stimulus, which its most recently released minutes suggested was possible. That would strengthen the dollar, making crude more expensive for international investors, and shut off a supply of money that some say had been fueling speculative trades in commodity markets.

The price of crude stabilized Friday, helped by the European Commission’s prediction that the recession afflicting the economy of the 17 countries sharing the euro will bottom out during the first half of the year.

Markets:

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Comments (13)

dancing bear
Posted on February 25, 2013 at 12:14pm
first it starts with a sequester ends with the feds paying dept by selling national parks.

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- Jim S
  Posted on February 25, 2013 at 12:40pm
  Blaze..”U.S. stock futures are rising even with automatic budget cuts just days away, should a political impasse in Washington not be resolved.”..why would a 85 billion decrease in increase spending have ANY effect on a 16 trillion economy? Or even on a $3.7 trillion Federal budget ?…I know Obama is trying to scare people..but why is the Blaze?..odd
  
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woodyee
Posted on February 25, 2013 at 10:23am
It’s easy to predict the stock market during weeks charged with political intrigue –
If oil is down, there’ll be a sequester.

If the Republicans are caving on the sequester, oil will go up, because petroleum is the base for VASELINE…and Bownerr loooovvveeesss Vaseline.

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- Outlaw_Josey_Wales
  Posted on February 25, 2013 at 11:11am
  The Green Wennies in Washington will find a environmental friendly substitute for Vaseline.
  
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- Outlaw_Josey_Wales
  Posted on February 25, 2013 at 11:23am
  Wennies = Weenies
  
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Stoic one
Posted on February 25, 2013 at 9:48am
IF>>> I had a take home pay of $260 a week and I was spending $380 a week; I would have to cut my spending by EIGHTY-FIVE Cents to have the same proportional savings.

PFFFFT!…………

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- Outlaw_Josey_Wales
  Posted on February 25, 2013 at 10:47am
  Look at debt
  
  Make $2,600 per year
  Spend $3,800 per year
  Credit card debt $16,500
  $359 annual interest payment at todays rate 2.49%
  $995 annual interest payment at 6.06% rate in 2001
  $2,020 annual interest payment at 12.3% rate in 1981
  
  When interest rates goes up, big big trouble is coming.
  
  Report this comment
- Stoic one
  Posted on February 25, 2013 at 12:04pm
  Yes indeed….. this is what washington does not want us peasants to be looking at.
  
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naughtycal
Posted on February 25, 2013 at 9:45am
Totally off topic but has anyone else notice the new U.S. naval commericals selling our navys as the worlds navy. Or the one in which the sailor says in one sentence he will up hold the Constitution and then the very next sentence says he will always follow orders of his supperiors as if those two ideal can be held without conflict.
Those in charge or our military are getting scarier and scarier everyday.

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- RJJinGadsden
  Posted on February 25, 2013 at 9:52am
  NAUGHTYCAL, I’ll pay more attention to that ad the next time it is on. Thanks for pointing that out.
  
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- Watchingtheweasels
  Posted on February 25, 2013 at 10:07am
  The “global force for good”?
  
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- Veteran Patriot
  Posted on February 25, 2013 at 11:50am
  The “global force for good”?
  
  We can’t have that big, scary American navy out there terrifying all those rouge countries. The wannies in congress are turning our armed forces into another version of the peace “corpse”.
  
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- naughtycal
  Posted on February 26, 2013 at 7:56am
  VP,
  I highly doubt you’re a veteran or patriot. The U.S Military is a Defense for U.S.citizens. Not an offense for the U.N. Remind what they call our department that handles the military THE DEPARTMENT OF DEFENSE. RIGHT.
  There’s no Constitution amendment that grants OUR Government the right to send our forces(MEN,WOMEN,AND ASSETS) around the globe to fight OTHER PEOPLES WARS. Especially at the cost of the tax payers of this nation. We’re seeing the results of this and how it has helped cripple our nation and added trillions to our national debt.
  You can call yourself Veteran patriot all you want it or you could call yourself Jesus both would be BS.
  
  Report this comment

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