The Most Important Numbers to Know Today
200 Democrats and 19 Republicans support passing a continuing resolution with no strings attached to re-open government, according to a CNN poll of Congress. With three vacancies among 435 Congressmen, 217 votes is the minimum required to pass the measure. Senate claims it's close to a deal, but the question is how House Republicans will react - as the shutdown continues into its fifteenth day.
700% surges were seen in TWTR earlier this month. The zombie stock represents shares of home audio store Tweeter Home Entertainment Group, now traded on the pink sheets, but a one-time strip mall staple of the suburban bass head set. Tweeter went bankrupt in 2007, and shut its doors nationwide through 2008. But, some overeager investors mistook TWTR to be the hotly-anticipated shares of Twitter, Inc. The stock, which had been trading around one-hundredth of a penny, shot up to nearly $0.05, amid the heaviest volume in seven years. FINRA has since changed the ticker symbol to THEGQ, and shares have settled back down in sub-penny territory. There's no need to worry about picking up shares of Southern gourmet supermarket Harris Teeter, either. Those shares were subsumed by Kroger earlier this summer. As for what to do about Twitter stock - take a look...all in one place?
What a Debt Ceiling Stalemate Will Do to the Market
Yesterday (Monday), Money Morning Chief Investment Strategist Keith Fitz-Gerald appeared on FOX Business' "Varney & Co."to make projections about what a stalemate on the debt ceiling will do to the market.
We are a little more than 24 hours away from the day that Treasury Secretary Jack Lew has said we'll exhaust the "extraordinary measures" and go over our debt limit. But even with the impending deadline, over the last five days the market has shakily climbed, with the Dow up 2.35%, Nasdaq up 1.16%, and the S&P 500 up slightly to 1.9%.To continue reading, please click here...
Why the Government Shutdown Is Good for Investors
The markets are already nervous over a stubborn group of Republicans threatening a government shutdown unless Democrats agree to defund Obamacare, or at least delay implementation of the healthcare law another year.
"A government shutdown starting next week is looking increasingly likely," Jim Russell, a regional investment director at U.S. Bank, told the Associated Press. "That will not be welcomed by the capital markets."
The S&P 500 has slid 2% since Sept. 19 as Wall Street watches yet another budget-battle spectacle unfold in Washington.
The problem is that the federal government only has enough money to keep the government's doors open through Sept. 30, the end of its fiscal year. Tea Party Republicans are using this deadline to try to defund the healthcare law.Read more...
U.S. Debt Ceiling Deadline Prompts This Stern Warning from Obama
The U.S. debt ceiling deadline lies just a few weeks away, raising the prospect of the nation defaulting on loans, seeing its credit rating downgraded and being plunged into a recession.
And there's no sign U.S. President Barack Obama or congressional Republicans are ready to budge on their positions on what to do about the debt ceiling.
President Obama once again made his case for raising the debt ceiling during a White House press conference today (Monday) and faulted Republicans for what he portrayed as a misguided position.
"They will not collect a ransom in exchange for not crashing the American economy," President Obama said. "The full faith and credit of the United States of America is not a bargaining chip."
If the GOP lawmakers refuse to increase the U.S. debt ceiling - they're holding out for dollar-for-dollar spending cuts - the president said markets could "go haywire," government payments including Social Security and military personnel checks would be delayed and the economy would slide into recession.
"It would be a self-inflicted wound on the economy," President Obama said. "It would slow down our growth and tip us into recession. To even entertain the idea of this happening is irresponsible. It's absurd."
How Investors Should Prepare as the Debt-Ceiling Deadline Approaches
U.S. President Barack Obama earlier today (Friday) addressed the nation about the debt-ceiling deadline, urging Congress to find a way "out of this mess" – something investors have made repeated pleas for. The lack of progress on the debt-ceiling debate has angered many investors who find themselves in a frighteningly uncertain position. "What's happening in [...]