US stocks jumped above 1700 on hopes for successful negotiations over the debt limit deal as the House will have a meeting at 12pm EDT & the Senate will also meet at 2pm EDT
But no safe supports found to trade as the market is only going up because of "hope"
It's better not to just trade on hope as the market might suddenly plunge again
News such as: Senate leaders are "making progress", "conversations have been very constructive" & "A deal is possible within the next 24 hours" continue as the administration tries to "calm the markets", somewhat providing a sense of false hope
"House Republicans will meet at 9am EDT tomorrow to discuss the details of that proposal and whether it will include policy conditions, which President Barack Obama says he can’t accept"
This indicates that Obama continues to reject almost any changes or conditions because he wants a deal without any conditions or "ransom"
It also indicates that a deal within 24 hours might not be possible
No comments:
Post a Comment