Dow futures +150: All you need to know about how bad the deal is

[Newsjock]

Wall Street is already having its giant circle-jerk to congratulate themselves on screwing over the last remaining bit of middle-class America.

http://money.cnn.com/data/premarket/

[RB TexLa]

1. People who knew there would be a deal (pretty much everyone) will make some money. Oh the horrors

it must be stopped! :crazy:

[flamingdem]

2. It was reported that the confidence about the deal would cause futures to go up

... I don't think it's the screw-a-thon belief some have causing that, plus.. future can drop quickly ..

[Poll_Blind]

3. They're having trouble hiding the food boners in their Bermuda shorts.

You know the fuck is on.

PB

[alcibiades_mystery]

4. Or, the uncertainty of this nonsense is relieved

You can't make the market the hero one day and the villain the next.

[mattvermont]

5. umm..the middle class

is well entrenched in the stock market. Where is your retirement?

[Newsjock]

8. Retirement!?

:rofl: :rofl: :rofl:

Retirement! That's a good one!

[mattvermont]

10. then I see that we are both

not part of the middle class, as my retirement with 25 years in is less than half my annual income.

[OrwellwasRight]

17. The amount of money that the "middle class" has in the stock market

is nothing compared to the amount the upper class and corporations have. The "ownership" society was just some bullshit Bush and his pals used to make us schmucks with a $20,000 401(k) account at age 40 feel like we were living the big time with them. Our little investments do not control markets the way theirs do, and we are the ones who will be wiped out when there is another Enron/Tyco/Global Crossing/Bernie Madoff/Lehman Brothers or anything else where the rich walk away scot-free and the rest of us walk away empty-handed.

[AndyTiedye]

6. That Just Tells Us They Think There Will be a Deal

It doesn't even make up for last week's losses.

Wall Street as a whole doesn't want us to default,
though the bears (including the Koch brothers and their teabagger minions) do.
Any deal would be positive for the markets.

If it were the kind of deal that was really favorable to Wall Street,
you'd see a bigger jump than that, I think.

[banned from Kos]

9. You're too logical. Don't you know you're supposed to hate everyone

who owns stock, a 401K or an IRA?

[SpartanDem]

7. All they cared about is not defaulting

[badtoworse]

11. Your post smacks of sour grapes

I take it you're not invested.

[OrwellwasRight]

19. Actually, the OP has a point.

The capital markets guys all the way up until Thursday were still writing letters to Boehner on the Hill telling him to stay strong in his commitment to cut Medicare and Social Security. Sure, they want a deal of any type. But if they can work it to their benefit and get the ceiling lifted AND get the cuts they want, it is icing on the cake.

[DCBob]

12. I guess you would have prefered the Dow to crash.

that would really help matters.

[Inuca]

13. Absolutely

MINUS 800 would have been SO much better, no? For everybody. 401Ks and the like? Who needs them?

[Warpy]

14. The Dow would do that over ANY deal

and world markets will likely follow.

[bluestate10]

15. Inaccurate cause and effect drawn by OP.

Dow futures are up because of confidence that a deal will be reached. That confidence did not exist last week. Don't get me wrong, I am not a stock market defender, I view the market as a wasteful way to build national wealth and stable employment. I am no fan of money shifter markets. But your conclusion is wrong and potentially disingenuous.

[pnwmom]

16. We've had a week of losses, so all that did was reduce the losses.

And the DOW will plunge again if the debt limit deal falls through.

[scheming daemons]

18. a most assinine OP.

The sow will soar over hints of ANY deal.