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Morning Market Roundup: Sequester Week Two — How We Doing?

Mar. 11, 2013 9:06am Becket Adams

Well, we’re in week two of sequestration. Here’s what’s shaking:

Stocks:

Getty Images

Wall Street stock futures are signaling a declining Dow after six straight days of gains that pushed the index to a series of all-time highs.

Dow Jones industrial futures fell 18 points to 14,363. S&P 500 futures are down 3 points at 1,550. Nasdaq futures are down 6 points at 2,802.

Shares in Europe were weighed down by renewed worries about the region’s struggling economies.

With little on the economic calendar in Europe and the U.S. Monday, stocks may be sluggish, especially after last week’s historic run. Last week was capped with a government report showing the U.S. unemployment rate fell to 7.7 percent in February from 7.9 percent in January.

Oil:

Getty Images

Benchmark oil for April delivery is down 32 cents to $91.63 a barrel at late afternoon Bangkok time in electronic trading on the New York Mercantile Exchange.

Recent gains by the dollar against the Japanese yen and the euro also put pressure on oil prices. A stronger dollar makes oil a less enticing investment for traders using those other currencies, since oil is traded in dollars.

Brent crude, used to price many kinds of oil imported by U.S. refineries, was down 76 cents to $110.09 a barrel on the ICE Futures exchange in London.

Markets:

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The AP contributed to this report. Featured image Getty Images.

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Comments (19)

Mr Sanders
Posted on March 11, 2013 at 8:32pm
What about the sequester? How painful it is? How life will come to a screeching halt? That I won’t be able to get my pampers or the garbage will stack up on my doorstep or the trees will stop growing or , better yet, the waters WILL NOT RECEDE! Over 300 people could be off furlowe if the President didn’t take the his grandiose vacations in recent months – then the kiddies could go and see the White House? What kind of WORLD do we live in if they deprive people from seeing the White House Tour…. why….. WHY!!!! OH PLEASE WHY!!!!!!!

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SGT Rock
Posted on March 11, 2013 at 12:49pm
I have survived Obamageddon!

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PIGSWILLNEVERFLY
Posted on March 11, 2013 at 10:19am
Arrogance & Manipulation

http://www.americanthinker.com/2013/03/why_is_america_facing_economic_and_societal_turmoil.html

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- SGT Rock
  Posted on March 11, 2013 at 12:42pm
  Good read
  
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BaldingEagle1776
Posted on March 11, 2013 at 10:18am
Why were Glenn and Rush saying the week before the sequester that it was silly and nothing to worry about, and then the day after the sequester they were crying that it’s “ruining our country?”

Don’t you ever question these clowns? Or do you just switch emotions as quickly as you switch channels?

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- Gonzo
  Posted on March 11, 2013 at 10:25am
  I’ve yet to hear either one of them say the sequester will ruin the country. Maybe you should actually listen to them, instead of believing whatever progressive website you haunt tells you they said.
  
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- notjoshing
  Posted on March 11, 2013 at 10:26am
  Troll.
  
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- BaldingEagle1776
  Posted on March 11, 2013 at 10:45am
  Gonzo, Glenn said it on his show last Tuesday. Try to pay attention next time.
  
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- Gonzo
  Posted on March 11, 2013 at 10:52am
  When did Rush say the sequester will ruin America?
  
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- Sargeking
  Posted on March 11, 2013 at 11:21am
  GONZO: You are so right. You just locked the heels of a Lib infiltrator. Good postings!
  
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NigelTufnel
Posted on March 11, 2013 at 10:07am
I caught the beginning of the NASCAR race yesterday as some guys at work had it on at their work-station. The master of ceremonies, who curiously had a British accent, blurted out the fact that, “this would be the last time the Blue Angels would fly over before the sequester kicks in.” Immediately the work group was upset because of the politicalization of a random sporting event. But the conversation quickly turned to why are taxpayers paying for the Blue Angels to fly over sporting events in the first place. Shouldn’t NASCAR have to pay for their own pre-race entertainment? People may notice sequester cuts, but will they care? Governement has yet to have their recession. NASCAR should go back to paying Billy Bob Jettson and his rocket car to perform for the fans. Govenrment spending crowds out private spending. The left has been complaining for 4 years about the 2 trillion dollars sitting on the sidelines. Rediculous overbearing government spending causes a lot of this. Sequester is just the first step of the weening process. There are so many more cuts that can and should be done.

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SamIamTwo
Posted on March 11, 2013 at 9:44am
Oh and Obama’s buddy, Ben Bernanke, is propping up the market..the market has nothing to do with government…The SEC did get involved for hyper trading…you know those wealthy people who can entice the smalls to buy and sell. The market is ripe for messing with those who are not wealthy to play in the market…actually it is gambling.

And in doing so BB makes Obama look good.

The stock market is not a good indicator. JIMHO The dotcom and housing bubble took it out of most of us.

I want a car bubble…cost of cars are outrageous. IMHO I can buy a home less the cost of a nice SUV.

My family was hurting before the sequester under Obama…and there will be impacts in the higher populated centers. Your not reporting on the 23 schools that recently shut down (I can’t recall but can google) in Philly. And it may not be tied to sequester but other State, county and city governments will use this to correct their issues and blame Obama…hahahahahah JIMHO

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ozchambers
Posted on March 11, 2013 at 9:40am
The press is confused about whether to puff the “Sunny economy is Obama’s gift to the people” story or “The economy is collapsing because of sequestering” story.

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SamIamTwo
Posted on March 11, 2013 at 9:34am
The typical citizen has never been harmed when this happens but this time under Obama it is essential services and supplies…so I’m not all that certain that some will not notice this time.

If you happen to watch local news like say in the most liberal state of the Union, WA state, they have something to say every day since Obama let it begin.

Obama is not a good person…afraid to say anything worse since they are watching. They do come to the schools, TACOMA, and take children away from their parents for making statements on the net…(they later released the child to the parents-school did not notify parents-old news still applicable today). Whistle-blowers are locked away (how come no one chases that down?????????)

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ForMyKidsVA
Posted on March 11, 2013 at 9:26am
I say we just shut down congress. That should save a buck or two.

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- SamIamTwo
  Posted on March 11, 2013 at 9:46am
  If we had a FY budget approved and fully appropriated, Hell yeah…but they have set it up so you need them there for at least 4 months out of the year. LOL
  
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- Gonzo
  Posted on March 11, 2013 at 10:39am
  Congress, or more accurately 1/4th of Congress, is the only thing standing between you and a full Obama dictatorship.
  
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Smokey_Bojangles
Posted on March 11, 2013 at 9:24am
When does the sky start falling,old folks start eating dog food,the military start using sticks as weapons,The FBI stop raiding raw milk farms,and Obama has to stop dinning with RINO/Progressives at expensive restaurants between his golf excursions?

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RayOne
Posted on March 11, 2013 at 9:14am
The Crisis Roll-out,
must not be keeping up.

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