Markets Complacent As Investors Wait On DC
S&P 500 futures are up 0.2% this morning after a 0.9% drop in the index Thursday.
"I started the week by asking when lack of concern would start to feel like complacency and that threshold has been crossed already," says Société Générale strategist Kit Juckes. "If there is no political progress over the weekend, investors are going to start to get really concerned about the debt ceiling, though the other side of the coin is that a flurry of newswire headlines about an imminent announcement could, at any time, signal a change of mood. So we wait, frustrated and nervous."
In Europe, most stock indices are trading slightly lower from yesterday's close, with the exception of the French CAC 40 (currently up 0.1%) and the Italian FTSE MIB (currently up 0.9%).
Overnight, the Japanese Nikkei 225 fell 0.9%, the Hong Kong Hang Seng dropped 0.3%, and the Australian S&P/ASX 200 gave up 0.5%.