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Morning Markets Movers: Stocks Start Freaking Out Over Debt Negotiations ... Again


Here’s what’s shaking:


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Stock futures are mixed despite decent earnings from some of the nation's biggest financial institutions.

Dow Jones industrial futures are down 58 points to 13,405. The broader S&P futures have lost 3.4 points to hit 1,461.80. Nasdaq futures are up 2 points to 2,716.25.

JPMorgan Chase reported a 55 percent jump in earnings for the last three months and Goldman Sachs' earnings almost tripled.

However, the U.S. followed the downward trend of markets overseas after the World Bank said that ongoing budget fights in Washington pose a significant risk to the global economy.


Oil prices slipped closer to $93 a barrel Wednesday, as Germany cut its 2013 growth forecast.

By early afternoon in Europe, benchmark oil for February delivery was down 8 cents to $93.20 a barrel in electronic trading on the New York Mercantile Exchange. The contract dropped 86 cents to finish at $93.28 a barrel in New York on Tuesday.

The German government cut its 2013 growth expectations to 0.4 percent from an earlier estimate of 1 percent on Wednesday, just a day after the announcement that growth in 2012 fell to just 0.7 percent from 3 percent in 2011.

Across the Atlantic, however, U.S. industrial production is expected to have risen again in December, taken as a positive sign by analysts of a gradual economic recovery.

Oil prices were also seen reflecting caution as another heated fiscal debate began brewing in Washington.

Just weeks after striking a deal to avoid the "fiscal cliff," U.S. lawmakers and President Barack Obama are heading for another showdown over the debt ceiling.


Follow Becket Adams (@BecketAdams) on Twitter

Featured images courtesy Getty Images.

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