With it looking likely that the U.S. government could face a shutdown tomorrow, investors fled stocks, causing the S&P 500 to finish down for the day, eating into the index’s quarterly gain. “We are at the mercy of whatever develops in Washington,” Michael James, a Los Angeles-based managing director of equity trading at Wedbush Securities Inc., said. “An attempt to prevent a shutdown is not totally unexpected, but some agreement will be better than none.” If lawmakers do not reach a deal by midnight today, the government will be shut down tomorrow.
Jim Woods has over 20 years of experience in the markets from working as a stockbroker,
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Bob Carlson provides independent, objective research covering all the financial issues of retirement and retirement planning. In addition, Bob serves as Chairman of the Board of Trustees of the Fairfax County (VA) Employees’ Retirement System, which has over $2.8 billion in assets.
Hilary Kramer is an investment analyst and portfolio manager with 30 years of experience on Wall Street. Since 2010, Hilary's financial publications have provided stock analysis and investment advice to her subscribers: