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Institution: U.S. Government Sees Dawn of Reopening, Stock Market Awaits Data That's Just Right in Weakness
BlockBeats News, November 12th, Richard Bernstein Advisors' Head of Macro Strategy Michael Metcalfe said, "If the US government continues to shut down, further economic growth will be affected. Fortunately, we have finally passed the government shutdown hurdle, which means we can breathe a sigh of relief as there will not be a significant slowdown in economic growth caused by a government shutdown."
The US employment data may be the most anticipated data not released due to the government shutdown, as investors are weighing whether the Fed will cut rates again in December. "For the stock market to continue its rally, the data must be weak enough to prompt a rate cut by the Fed but not too weak to raise concerns about an economic slowdown," Metcalfe said. (FXStreet)
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