Government Shutdown
Today the US Government enters its third day of being shut down, and it appears that the stock market doesn’t like that all too much. The stock market is currently down, while we see the treasury yields (T-bills) hitting 3.5 year highs. The big questions is, Will this sudden shift in market direction changed the overall market trend?
One thing to note is that a government shutdown usually leads to an average 0.6% decrease in the S&P 500, over the period of the closure.
In other news…
Amazon finally opens it’s automated grocery store today (only a year behind schedule…) in Seattle. This store has the promise of ‘no lines, no checkouts, no register’. The technology is supposed to detect every item you take off the shelf (or put back), and charges your amazon account when you walk out of the store. It certainly sounds interesting, and we’ll have to wait and see how the launch goes. Of course, some people are concerned about jobs, and rightfully so. If this foray into automation is successful, this could be a major market disruptor for all grocery store chains.
Stocks, Gold, Oil, and Bitcoin
As of 6:20 AM:
Dow -0.2%. S&P -0.1%. Nasdaq -0.1%. Crude flat at $63.31. Gold steady at $1332.90. Bitcoin -0.2% to $11504.
Leave a Reply
Get in the Conversation, Share your opinion.