Historically, shutdowns have not been the market killer many fear.
The last 6 shutdowns all saw the S&P 500 rise from start to finish. Even the 35-day freeze in 2018–19 saw the index surge nearly 10%. Yes, Powell’s dovish pivot helped then but the bigger takeaway is clear: markets shrugged off the shutdown and rallied. Why? Because markets hate uncertainty, but they also know every shutdown will eventually be resolved. Source: Stockmarket.news
Could it be just the start?
Source: Tavi Costa, Bloomberg
What a chart...
Source: Brew Markets
OpenAI valuation soars to $500bn, topping Musk’s SpaceX
Current and former OpenAI employees sold ~$6.6bn of stock to investors at a $500bn valuation, boosting the US company’s price tag well past its previous $300bn level. Source: HolgerZ, Bloomberg
StockMarket.news >>> Shutdowns don’t mean every federal worker goes home.
In fact, the majority keep working but many do so without pay. Defense alone accounts for over 800,000 employees, with nearly half exempt to maintain readiness. Veterans Affairs and Homeland Security also keep most staff on the job. By contrast, agencies like Treasury, Agriculture, and Commerce see heavier furloughs, meaning critical services like tax processing, farm programs, and trade oversight grind to a halt. All told, nearly 900,000 workers could be directly furloughed this time, while millions more are forced to work without pay, highlighting just how disruptive a full shutdown really is. Source: stockmarket.news
The federal government has officially shut down after Congress failed to pass short-term funding
Source. ABC News
FedWatch shows a 92.5% chance of a 25 bps Fed rate cut in October.
Source: CME FedWatch
gold just had its best monthly performance since August 2011...
Source: zerohedge
