The Stock Market is Implicated by the Government’s Closure
The stock market fell slightly on the 11th, as the US government continued to close.
Due to Microsoft’s drag, the Dow Jones Industrial Average fell 5.97 points, 0.02% to close at 2,995.95 points; the S&P 500 index fell 0.38 points, 0.01% to close 2,592.26 points, mainly due to the decline in energy stocks; Nasdaq The composite index fell 14.59 points, 0.21% to close at 6971.48 points.
The federal government is still partially closed for the 21st consecutive day, causing market fears that it may be delayed for a long time. President Trump’s tweet said that he will not attend the Davos World Economic Forum later this month because the government is closed.
He also said that if the White House and Congress could not reach an agreement to end the closure, he would “probably” declare a state of emergency.
In a report to clients, US Commercial Bank Merrill Lynch economist Joseph Song said, “We believe that the government will eventually reopen the door, but only after an economic, financial or political pain has reached an agreement.” Two weeks will reduce the economic growth rate by 0.1 percentage point; it is more likely to delay the expenditure and investment.”
Goldman Sachs analyst Karen Holthouse said that after Apple’s recent cut in revenue, Starbucks will be the next company to warn China’s economic slowdown. “Apple’s recent claims may be caused by products, but special emphasis is placed. With trade issues and macroeconomics, McDonald’s also admitted that the region’s growth.