Friday’s Midday Movers: 3 Stories Driving Markets
The major U.S. stocks were gaining Friday thanks to expectations that the Federal Reserve will continue its stimulus program. As of 12:15 p.m.:
|DIJA: -0.07% to 15,361.62||S&P 500: +0.39% to 1,739.98||NASDAQ: +0.89% to 3,897.48|
|Gold: -0.19% to 71.93||Oil: +0.11% to 23.9359||U.S. 10-Year: -0.31% to 25.79|
Here are three stories helping shape the market Friday afternoon.
1. Adding Up the Economic Cost of Political Dysfunction: After more than two weeks of brinkmanship that pushed the U.S. government through a partial shutdown and to the doorstep of its borrowing limit, both houses of Congress have voted to pass a stopgap measure to fund the government through January 15 and suspend the debt limit through February 7.
The measure passed the Senate 81-18, cleared the House 285-144, and was signed promptly by President Barack Obama late on Wednesday night. The legislation effectively established a temporary political ceasefire, suspending the use of government funding and the debt limit — as well as the specter of default — the only weapons powerful enough to really do anything in what has become full-blown political trench warfare in Washington… (Read more.)