Why the futures are lower

Quote from stock_trad3r:

The futures are lower after the stimulus vote because it passed in the senate

Had it missed by a few republican votes Obama would have NO CHOICE but to comply with republican demands for more tax cuts in a new version of the bill.

http://www.weeklystandard.com/weblogs/TWSFP/2009/02/rasmussen_62_percent_want_more.asp

Too bad it got passed in this form.

It is believed that a contested house is good for stocks.
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Futures are lower because of you. The markets were doing fine till you suggested to buy. They are out to get you. I'll be very scared if I were you.
 
The market is not trading around the stimulus right now. I see another round of de-leveraging happening in some funds that are in trouble.
 
Euro Weakens on Nikkei Report Russian Banks to Reschedule Debt
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By Ron Harui


Feb. 10 (Bloomberg) -- The euro fell, halting a three-day gain against the yen, after the Nikkei newspaper reported that Russian banks and businesses may ask foreign lenders to reschedule loans worth $400 billion.

The yen gained for a second day versus the dollar on speculation the financial turmoil in Europe is worsening, prompting investors to sell higher-yielding assets. The 16- nation euro also dropped against the dollar after European finance ministers signaled increasing concern that some governments are finding it harder to borrow in financial markets.

“European banks may face more financial difficulties, given the Nikkei’s report that Russian banks may negotiate a debt rescheduling,” said Yuji Saito, head of the foreign- exchange group in Tokyo at Societe Generale SA, France’s third- largest bank by market value. “It is natural that the euro is sold” to $1.27 and 117 yen today, he said.

The euro declined 1.1 percent to 117.65 yen as of 9:36 a.m. in Tokyo from late in New York yesterday. Europe’s single currency also dropped 0.9 percent to $1.2889.

The Russian Association of Regional Banks has submitted a plan for rescheduling loans to the Russian government, the Nikkei newspaper said, citing an interview with Anatoly Aksakov, the head of the association. The group is already in talks with HSBC Holdings Plc and Deutsche Bank AG, the Nikkei reported.
 
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