This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Stock Futures Rise as Obama Prepares to Confront Congress

Stocks in this article: NFLX FB AMZN AAPL

NEW YORK ( TheStreet) -- U.S. stock futures rose after yesterday's Christmas Day close, as investors await a showdown between President Obama and the Senate in tackling the so-called fiscal cliff.

The president aims to make progress five days before a deadline that would trigger tax increases and spending cuts, a combination that could put the economy into a recession. Congress will return Dec. 27, while Obama heads to Washington from a vacation in Hawaii today.

The Republican-controlled House of Representatives balked last week at Speaker John Boehner's "Plan B," a compromise on raising taxes for the wealthy. The move was seen as Boehner losing control of his party and his credibility. Now any talks will head to the Senate, though the House would have to sing off on any plan there.

Futures for the Dow Jones Industrial Average were up 25 points to 13,090. Futures for the S&P 500 were up 3.2 points to 1,423. Futures for the Nasdaq were up 5 points to 2,653.75.

The economic calendar in the U.S. Wednesday includes the Redbook, a measure of sales at chain stores, discounters, and department stores, as well as the S&P/Case-Shiller 20-city home price index.

Gold for February delivery was down $1.50 at $1,658 an ounce at the Comex division of the New York Mercantile Exchange, while February crude oil contracts were up 45 cents at $89.06 a barrel.

The benchmark 10-year Treasury was trading at 1.78%. The U.S. dollar index was at 79.64.

A stock to watch Wednesday is Netflix (NFLX). The company's video-streaming service suffered a Christmas Eve outage that continued into Christmas morning for some customers.

In Twitter posts, Netflix said problems at (AMZN) were the cause. Amazon provides Internet services to Netflix and other corporate customers.

Netflix shares were down 0.5% in pre-market trading.

Facebook (FB) was the most active stock in pre-market trading, rising 1.2%. Options traders are bullish on the stock after investment bank Needham & Co. raised its price target on its belief that mobile-revenue growth will be stronger than expected.

Apple (AAPL) was among the 10 most-active shares in pre-market trading today, though prices were little changed at $520.41. The gadget maker's stores were packed in the days leading up to Christmas, boding well for the holiday-shopping quarter.

Less fortunate was Microsoft (MSFT), whose stores were mostly empty. The shares were up 0.2% in pre-market trading.

-- Written by Parris Kellermann

>To submit a news tip, send an email to:

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 18,030.21 +6.04 0.03%
S&P 500 2,081.88 -0.29 -0.01%
NASDAQ 4,773.4720 +8.0480 0.17%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs