Data, Budget Negotiations Lower Stocks

Data, Budget Negotiations Lower Stocks (Bloomberg)

Stocks fell today, as investors considered the effects both federal budget negotiations and better-than-expected economic data would have on the timing and magnitude of stimulus cuts from the Federal Reserve. “In front of the prospect of a budget deal and the Fed’s meeting next week, there’s a little bit of nervousness,” Dan Greenhaus, chief global strategist with BTIG LLC in New York, said. “You’re inclined to trade sideways and I think that’s what’s happening. We had a very strong day on Friday, so some digestion of a more than 1 percent move up is not out of the question.”