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Futures Ramp On Speculation House Republicans May Fold; Fall On Report No More Votes Tonight

Tyler Durden's picture




 

Update: Well, kiss that idea goodbye: GOVERNMENT WILL SHUT DOWN TONIGHT; HOUSE WILL NOT ATTEMPT MORE VOTES TONIGHT, WAPO REPORTS (link)


While it will be supremely ironic if stocks were to soar on the day the US government shuts down (it would be curious to see how Congress would spin that particular "market" reaction to a world without a US government), a ramp in the futures is precisely what is going on.

And while there is no definite reason for this market reaction, it is being attributed to two things: first, the House Rules panel announced moments ago it would meet at 10:30 pm on a new spending Bill and are that Republicans are said to seek talks with the Senate on spending. Of course, if the GOP folds in the last moment, it would be Boehner's most epic collapse to date (in a long and illustrious series of humiliations). Which brings us to reason number two: also moments ago, John McCain pretty much threw his colleagues under the bus, saying House Republicans will not "succeed in the end" and that the House will end up sending a clean CR, just as Obama has demanded all along, which in turn has emboldened traders to assume that there is a better than negligible chance the GOP will once again bend over.

From NRO:

Senator John McCain had tough words for House Republicans tonight after the Senate rejected their latest amendments to the continuing resolution.

 

“They will not succeed in the end,” McCain told reporters of the House Republicans trying to tie anti-Obamacare measures to the CR.

 

“We can’t win,” the Arizona senator added. Talking about the House sending a clean CR, McCain remarked, “That’s going to happen sooner or later.”

 

Asked if there would be another vote, McCain said,”No, no, no we’re not doing [that].” Senate majority leader Harry Reid, he added, “thinks that they [the House] are not going to act tonight.”

Either way: 90 minutes now and counting.

 

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Mon, 09/30/2013 - 22:39 | 4008149 Dre4dwolf
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House is going to fold, Obama already funded the fuck out of his obama care, there is no stopping it, Obama spent two terms making his bullshit doomed to fail health-care system............. he is not going to back down on it.

Congress lacks the back-bone to go through with an actual shut-down and Obama knows this.

 

Mon, 09/30/2013 - 22:45 | 4008174 Xibalba
Xibalba's picture

Trading Places bitchez! 

Mon, 09/30/2013 - 23:01 | 4008202 max2205
max2205's picture

McStained in my shorts.....

Mon, 09/30/2013 - 23:08 | 4008220 AllThatGlitters
AllThatGlitters's picture

What's up with Gold just trending sideways tonight?

Live Spot Gold: http://www.pmbull.com/gold-price/

Mon, 09/30/2013 - 23:10 | 4008228 flacon
flacon's picture

William Bonzai made this fantastic image:

http://img10.imageshack.us/img10/3393/v220.png

 

Mon, 09/30/2013 - 23:27 | 4008301 smlbizman
smlbizman's picture

 harriet ried , what a cunt...right?...and fuck you bernie sanders, another pos....

Mon, 09/30/2013 - 23:08 | 4008230 AllThatGlitters
AllThatGlitters's picture

Same with Silver: http://www.pmbull.com/silver-price/

I'm bored.  Stocks dont' exicite me since I'm not in them (save for a few miner dogs that aren't worth selling).

Mon, 09/30/2013 - 23:25 | 4008295 Spitzer
Spitzer's picture

Why not ? That's just paper gold

Im not even mad.

Tue, 10/01/2013 - 00:15 | 4008548 AllThatGlitters
AllThatGlitters's picture

Not mad. Bored. And despite the silly repeated protestations to the contrary, physical is still priced based on paper.

Spot goes up, physical goes up. Spot goes down, physical goes down. Granted, that won't last forever, but for now, they are tied together. 

Dealer prices are tied directly to spot, so if the prices dip, I get to buy cheaper. If spot went up 10% tomorrow, I sell for 10% higher (not that I'm selling). 

During relative rare periods where dealers got caught short on inventory, premiums did rise, but directionally, their prices still followed the paper price.

 

Mon, 09/30/2013 - 23:02 | 4008204 spastic_colon
spastic_colon's picture

11th hour last minute resolution coming Nikkei already got the memo. Fuck McCain! And o'blather the Hun!

Mon, 09/30/2013 - 23:22 | 4008280 Kirk2NCC1701
Kirk2NCC1701's picture

Spot on, Xibalba! They've done a complete role reversal: Now the Dems have balls and spine. The GOP have.. weak-kneed wienies. Pathetic!

And they then stoop even lower by selling out their Conservative colleagues as their scape goats.

Both parties disgust me -- for different reasons -- for betraying We The People. Vote 'em out in 2014!

Mon, 09/30/2013 - 22:47 | 4008178 Renewable Life
Renewable Life's picture

Just let them squirm for a week, I can't wait to hear the crying and hysterics from the millions of Gov workers and all their advacates on the MSM!!

That would be such a win IMO!

Mon, 09/30/2013 - 22:49 | 4008183 stocktivity
stocktivity's picture

You won't see it....futures are way up. 

Mon, 09/30/2013 - 22:59 | 4008198 Renewable Life
Renewable Life's picture

So the headlines say.... it will shut down, no more votes, I'm not sure I get your point?  The stock market can do whatever its does every manipulated day, its the gov workers that I want to sit at home for a week and stew and cry on the media about how "they cant eat"!

Mon, 09/30/2013 - 22:41 | 4008152 ZippyBananaPants
ZippyBananaPants's picture

I'll look at the "10 hot female athletes that you have never heard of" while we all wait.

Mon, 09/30/2013 - 22:40 | 4008155 ZippyBananaPants
ZippyBananaPants's picture

Twice

Mon, 09/30/2013 - 22:43 | 4008162 Overfed
Overfed's picture

How about that Paulina Gretzky? Rowr.

Mon, 09/30/2013 - 22:41 | 4008153 Overfed
Overfed's picture

Well, insider trading IS legal for CONgress.

Mon, 09/30/2013 - 22:53 | 4008186 Cruel Aid
Cruel Aid's picture

yea and Max Baucus is retiring. I suspect he is a little concerned about that story getting legs.

But Nancy would never retire bc she has so much stinking cover it is pathetic

Mon, 09/30/2013 - 22:41 | 4008154 Everybodys All ...
Everybodys All American's picture

McLoser strikes again.

Mon, 09/30/2013 - 22:43 | 4008156 Eireann go Brach
Eireann go Brach's picture

NiGgaNoMiCs 101!

Mon, 09/30/2013 - 22:42 | 4008157 NoDebt
NoDebt's picture

Right on cue.

Mon, 09/30/2013 - 22:43 | 4008163 Freedumb
Freedumb's picture

Obligatory comment: Dow +200 tomorrow

Mon, 09/30/2013 - 22:44 | 4008169 NoDebt
NoDebt's picture

3 minutes changes things a lot- apparently they won't.

Mon, 09/30/2013 - 22:50 | 4008184 adr
adr's picture

I know I wait with bated breath to find out what Harry Reid did before I make any business decisions.

This is just insane. Futures ramp or crash on every fucking rumor that has nothing to do with anything that relates to the market.

It's all bullshit. 

In a few weeks most corporations will beat lowered expectations again. More will even miss on revenue, down from last year, but it won't matter. Stocks aren't allowed to go down. 

Where's the growth to justify Amazon's price? The massive increase in profit was already supposed to happen, it didn't but the stock still goes up.

Mon, 09/30/2013 - 22:52 | 4008185 ParaZite
ParaZite's picture

Gold down to 1000.00 an ounce. 

Silver down to 10.00 an ounce. 

Let's face it... someone's gonna have to manipulate some shit tomorrow. With gold prices dropping today, I think I can guess where this is going. :P

/sarcasm off. 

Mon, 09/30/2013 - 22:54 | 4008190 DavidC
DavidC's picture

Absolutely fucking pathetic.

DavidC

Mon, 09/30/2013 - 22:56 | 4008194 tony bonn
tony bonn's picture

i was certainly mistaken in my prediction that a continuing resolution would pass at the last minute, but only mistaken in timing....boehner will fold like the cheap suit that he is within a few days.

it wouldn't hurt my feelings to see the government out of business for the next year.....yet on the other hand there are people who will be hurt, which is a crying shame....i certainly am not talking about the hundreds of thousdands of government bureaucrats raking in over 100k per year, but about poor people who are hurt...

Mon, 09/30/2013 - 23:04 | 4008209 jerry_theking_lawler
jerry_theking_lawler's picture

they can get a real job at the nearest iStore or McDs....because that is all that is left of the jobs (if you rule out the .gov jobs that is)....good luck with that.

Mon, 09/30/2013 - 22:58 | 4008197 John McCloy
John McCloy's picture

GOP false conservatives are toothless..are average Americans beginning to finally see that this is essentially one party with only about 5% of Congress not being puppets?

If the GOP calls Putin in for negotiations we'll know they are sincere.

Mon, 09/30/2013 - 23:00 | 4008201 y3maxx
y3maxx's picture

News just coming out....."Canada Agrees to Amalgamate with the USA."

"...Prime Minister Stephen Harper, who by the way, could have been Obama's Son, has declared that Western Canada will leave the Canadian Confederation and instead join with the USA as its 53rd - 56th States.

Manitoba, Saskatchewan, Alberta and British Columbia want some of that Obamacare, Moar Guns, Food Stamps, Costly Post Secondary Education, KKK, Gulf Shrimp, Grits, Fracking,TBTF Banks, Widespread Mortgage Foreclosure Fraud and of course a Las Vegas they can call their own too."

More at the 11.00 pm News Hour

Mon, 09/30/2013 - 23:03 | 4008212 NoDebt
NoDebt's picture

Um.... Hold on a minute.  How many states to you think were in the United States prior to our annexation of the western half of Canada?

Mon, 09/30/2013 - 23:28 | 4008298 akak
akak's picture

I think he was (correctly) taking into account the US State of Entitlement, the US State of Self-Importance, and most importantly, the US State of Denial.  That makes 53 in total.

Mon, 09/30/2013 - 23:23 | 4008279 prains
prains's picture

uhm.......no

 

you can have Toronto all day long however

Mon, 09/30/2013 - 23:38 | 4008313 Kirk2NCC1701
Kirk2NCC1701's picture

LMAO... Alberta joining the USSA? You nuts?

As a country, Canada joined the US a loooong time ago. When they stopped being a colony of the UK, they became a colony of the US.

BTW, ever since Pierre Elliot Trudeau -- a real man! -- left, Canada has done the complete bidding of its masters in DC, Tel Aviv and London. All else is delusion, hypocrisy or BS.

Tue, 10/01/2013 - 00:05 | 4008484 ReactionToClose...
ReactionToClosedMinds's picture

are you serious .... Trudeau?  Come on, man ...lighten up

Mon, 09/30/2013 - 23:03 | 4008207 Col_Sanders
Col_Sanders's picture

"We"?

He fucking said "*We* can't win?"  What "we" is he babbling about?

Fuck him.  He must have a fucking turd in his pocket.  "We" outnumber you - you arrogant little pissant.

If there was any justice in this universe, he would be asking "would you like fries with that" at some bowling alley snack bar in East Bumblefuck, Alaska instead of prancing around in the US Senate acting like he's Mr. Man.

What a douche-nozzle.

Mon, 09/30/2013 - 23:07 | 4008222 Encroaching Darkness
Encroaching Darkness's picture

Agreed, McShame is a disgraceful example of why "Senator" has become an insult to the working people of America, if there are any still left employed after Obama's feckless lack of leadership.

I want no part of any group of corrupt, senile lackeys that include him as "we".

Had enough yet, Arizona? Ready to keep that useless waste of resources in office? Doesn't Arizona have recall statutes?

Madness.

 

<<< SHUT IT DOWN >>>

Mon, 09/30/2013 - 23:32 | 4008316 akak
akak's picture

As a resident of East Bumblefuck, Alaska, I take umbrage at your unwarranted casting of aspersions against all good East Bumblefuckians --- some of whom even brush their tooth and bathe daily.

Mon, 09/30/2013 - 23:03 | 4008210 QQQBall
QQQBall's picture

Obomber cannot fold. OCare is his legacy - w/o OCare he is just 8 wasted years of talk.

Mon, 09/30/2013 - 23:08 | 4008226 holdbuysell
holdbuysell's picture

"While it will be supremely ironic if stocks were to soar on the day the US government shuts down (it would be curious to see how Congress would spin that particular "market" reaction to a world without a US government), a ramp in the futures is precisely what is going on."

Now THAT'S possibly the most rational reason for buying into an otherwise irrational farcical stock market.

Mon, 09/30/2013 - 23:12 | 4008238 Cabreado
Cabreado's picture

Which will win, I wonder...

a defunct and disconnected government,

an irrational and disconnected market,

or an ignorant and disillusioned masses, with an appropriate loss of hope?

Of course, none...

So then, rational persons would concentrate on points of control.

With righteous anger, and humility too, which breeds action with purpose and without violence.

Mon, 09/30/2013 - 23:17 | 4008258 NoWayJose
NoWayJose's picture

Best thing for the Republicans will be for the light to shine on Obamacare. Once more people see it, and the cost, the Republicans might pick up some more support. Otherwise, Boehner caves again.

Mon, 09/30/2013 - 23:17 | 4008265 chump666
chump666's picture

 slightly optimistic

http://www.forbes.com/sites/afontevecchia/2013/09/30/shutdown-and-debt-c...

All eyes on the USD, either way what these idiots choose to do, we could have a dump.

Mon, 09/30/2013 - 23:19 | 4008273 Lord Lucan
Lord Lucan's picture

I'm amazed how relaxed the markets are....maybe they've got congress on the ignore watchlist...

Mon, 09/30/2013 - 23:25 | 4008290 icanhasbailout
icanhasbailout's picture

GOP folding is priced in.

Mon, 09/30/2013 - 23:45 | 4008358 Kirk2NCC1701
Kirk2NCC1701's picture

Jamie or Lloyd calling Cry-Me-A-River-Boehner is priced in.

Tue, 10/01/2013 - 00:00 | 4008424 omantrader
omantrader's picture

Obama wins again. Destroys the gop. Fucking fools.

Tue, 10/01/2013 - 03:24 | 4008860 Randoom Thought
Randoom Thought's picture

If Obumblefuck wins then people will hate both congress for being useless and Obumblefuck for being a useless obstinate ass.

Tue, 10/01/2013 - 03:21 | 4008857 Randoom Thought
Randoom Thought's picture

Since all Wall street prices are managed by computer these days as a matter of policy, we can be assured that the prices will be manipulated in an attempt to get the exact of effect "they" want.

Pavlov had a cat too.

Tue, 10/01/2013 - 04:10 | 4008885 SmittyinLA
SmittyinLA's picture

Shouldn't futures CRATER on a Republican fold?

 

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