US EditionWall Street Falls On Reopening Day, Bitcoin Slides To $100,000 - Walt Disney (NYSE:DIS)
Markets showed mixed reactions to the 43-day government shutdown's end as key economic data remained missing and the Federal Reserve maintained a cautious outlook.
- On Thursday, President Donald Trump signed a funding bill ending the 43-day impasse on Capitol Hill, funding SNAP food aid, the Department of Agriculture, Congress, and veterans affairs through September next year.
- Missing labor data and unpaid Federal Aviation Administration staff compounded economic uncertainty as the Bureau of Labor Statistics could not provide jobs market reports and furloughed federal workers pulled back on spending.
- Markets reacted with losses, the S&P 500 slid 1.2% while the Nasdaq 100 fell 1.7%, and the Vanguard S&P 500 ETF dropped to $620.75 as Invesco QQQ Trust tumbled to $611.
- Market-Implied odds of a 25-basis-point rate cut in December fell below 50%, and traders adopted a cautious stance ahead of upcoming economic releases.
- Most federal departments are only funded through January 30, leaving short-term coverage as officials warn a partial shutdown remains possible if Congress does not pass another continuing resolution.
23 Articles
23 Articles
Record-breaking US govt shutdown will cast long shadow
The longest government shutdown in US history may be over — but its economic fallout is still coming into focus. At least $11 billion in real GDP will be gone for good, according to the Congressional Budget Office. And key economic data, including employment and inflation numbers for October, will likely never be released. The latter means “we’re flying with a blurry windshield a little longer,” economist Guy Berger said. That’s a problem for th…
Wall Street Falls On Reopening Day, Bitcoin Slides To $100,000 - Walt Disney (NYSE:DIS)
Risk sentiment deteriorated sharply on Thursday despite federal agencies reopening after the longest government shutdown in U.S. history, as investors aggressively repriced Fed rate-cut expectations following a wave of hawkish remarks from central bank officials.
Wall Street dawns again in red. US equity futures fall this Friday and chain the hangover of the heavy sale of the eve, in a context in which investors attempt to calibrate two shocks at the same time: the impact of the longest government shutdown in U.S. history and the twist of tone in the Federal Reserve, where several voices begin to question that there is a new rate cut in December.
fxopen.com
Action ForexPound Strengthens After Weak GDP Data as Markets Assess the Impact of the US Shutdown
The British pound posted a solid advance yesterday, despite UK GDP data coming in weaker than expected. The economy showed virtually no growth, underscoring persistent pressure on domestic demand and the manufacturing sector. However, the market appears to have used the release as an opportunity to cover short positions after a prolonged decline, which supported the pound in both major pairs.Another factor behind the gains in GBP/JPY and GBP/USD…
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