1. Shutdown looms: There is a very real possibility that the United States government will be forced to shut down at midnight. But investors don't appear to be too worried.
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| Where U.S. stocks are heading | | Dow
Futures | | Nasdaq
Futures | | S&P
Futures | | +95.00 | | +34.00 | | +8.75 | | +0.37% | | +0.50% | | +0.31% | | | |
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| | | Japan | | China | | U.K. | | Nikkei 225 | | Shanghai Composite | | FTSE 100 | | +44.69 | | +13.11 | | +17.10 | | 23,808.06 | | 3,487.86 | | 7,718.06 | | +0.19% | | +0.38% | | +0.22% | | | |
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| | | Biggest Winners | | NVIDIA Corp | +2.01% | | | | Tyson Foods Inc | +1.42% | | | | Carnival Corp | +0.99% | | | | Ford Motor Co | +0.91% | | | Biggest Losers | | International Business Machines Corp | -2.89% | | | | Morgan Stanley | -1.06% | | | | Applied Materials Inc | -1.05% | | | | Albemarle Corp | -1.03% | | | | | | | |
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| News: What you need to know about the markets | | | | | | | Shutdown looms; IBM drops; Schlumberger earnings | By Alanna Petroff
Friday, January 19th, 5:12am | | | | 1. Shutdown looms: There is a very real possibility that the United States government will be forced to shut down at midnight. | | | | But investors don't appear to be too worried. | | | | House Republicans approved a bill late Thursday that would keep the U.S. government running until mid-February. But Democrats in the Senate, some of whose support is needed to pass the measure, appear poised to take a stand. | | | | Democrats, who have been frustrated by a lack of progress on immigration, are hoping to extract concessions in return for their votes. | | | | Market reaction has so far been muted. U.S. stock futures were steady on Friday, and most global markets posted gains. | | | | A brief government shutdown is not expected to have a large economic impact. But it could hurt investor, consumer and business confidence because it signals a major breakdown in the political process. | | | | "The economic damage of a shutdown should be limited, if the shutdown is relatively short lived ... A longer slowdown would start to do more serious damage," warned Paul Donovan, global chief economist at UBS Wealth Management. | | | | Before the Bell newsletter: Key market news. In your inbox. Subscribe now! | | | | 2. Stocks to watch -- IBM, American Express: Shares in IBM and American Express could stumble on Friday. | | | | IBM reported its first sales increase in 22 quarters after the market closed on Thursday. | | | | Sales grew 1% last quarter, but that might not be enough to convince investors that IBM has turned its fortunes around. Shares were down by as much as 4% after the market closed on Thursday. | | | | American Express shares were also lower in extended trading after the firm posted its first net loss since 1992. | | | | The company said the recent tax code overhaul was the culprit. American Express estimates that it will face a $2.6 billion "charge" because of the new law, most of which will go toward a tax on profits earned overseas. | | | | 3. Hotels halted: Trading in Wanda Hotel Development was halted in Hong Kong, and investors are waiting for news about the potential sale of a business unit. | | | | Wang Jianlin, who heads up the Wanda real estate and entertainment empire, is among China's richest men. | | | | Wanda has been scaling back parts of its sprawling operations after coming under heightened scrutiny by Chinese authorities last year. | | | | 4. Earnings: SunTrust Banks and Schlumberger will release earnings before the open. | | | | Download CNN MoneyStream for up-to-the-minute market data and news | | | | | | | |
| | | | | | | Friday -- January consumer sentiment report released by the University of Michigan; Potential government shutdown at midnight | | | | | | | |
| Key Market Stats | Latest | Today's Change | | | Oil | $63.63 | -0.32 / -0.50% | | | Gold | $1,334.70 | +7.50 / +0.57% | | | 10-yr | 2.61% | +0.03 / +1.28% | | | Euro | $1.23 | +0.00 / +0.29% | | | |
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