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- US Stock Futures FELL AS The Government Shutdown Hit Markets.
- The Shutdown May Delay Key Economic Reports.
- Gold, A Haven Investment, Hit A Record High – Again.
US SOCCKS ARE POED TO Open LOWER AFTER The US Government Shut Down on wednesday.
Here’s Where US Stock Futures Stand at 9:15 AM et On Wednesday:
- S&P 500: Down 0.4% at 6,712 Points
- Dow Jones: Down 0.2% at 46,585 Points
- Nasdaq: down 0.5% at 24,788 points
Haven Assset Gold Hit A Fresh Record High Before Retreating, and the US Dollar Index was slightly Lower.
- Spot Gold: $ 3,870 per ounce
- US Dollar Index: Down 0.2% at 97.57 Points
History Shows That Markets Generally Take Us Government Shutdowns in Their Stride. On Tuesday, The S&P 500, Dow Jones Industrial Average, and Nasdaq Composite All Closed in Positive Territory.
Howver, The Shutdown Could Create Practical Concerns for Market Participants, as the US Nonfarm Payrolls are Scheduled for Release on Friday, Wrote Deutsche Analysts on Wednesday.
“SO as it stands, we won’t get a jobs Report on Friday, nor the bls aren’t releasing New Data,” They Wrote.
Should the shutdown go on, the Other Data Sets, Including Inflation Numbers – Used to Gauge the Federal Reserve’s Interest Rate Decisions – COULD ALSO BE DEAYED.
“THIS COULD SIGNIFICANT, FIVE IF ONLY TEMPPORARY, Economic Disruptions,” Wrote Vishnu Varathan, Mizuho’s Head of Macro Research for Asia Excluding Japan, in a Tuesday Note.
“A shutdown May inadvertently amplify risk of policy missteps due to data obfuscations amid interrupted fits and starts to economic momentum,” Varathan Added.