U.S. Stock Futures Are Higher As Senate Passes Short Term Extension To The Debt Limit #Senate #DebtLimit #EnergyMarkets
U.S. stock futures are higher: New jobs for September was 194,000 versus consensus of 475,000, a noticeable miss versus estimates and prior July and August totals were increased. The futures remain positive after the announcement. Questions regarding the timing of a potential tapering is still unclear and next months Fed meeting will be closely scrutinized for meaningful insights. The 10y yield note climbed above 1.60% for the first time since June this morning but both yields are slightly lower, as investors analyze the report. Short term extension to the debt limit was passed by the Senate and should provide positive sentiment for investors, the deadline for a possible default is Oct 18. The plan is now with the House and it is expected to be approved. Volatility in the energy markets continue as WTI ticked up to $80 per barrel with doubts that the U.S would release crude from its strategic reserves. Corporate spreads widened a couple basis points over the last week.