If any investors thought a government shutdown was an opportunity to short the market, they were proven wrong. All major indexes reached record highs even after the shutdown began on Oct. 1. Attention now shifts to the upcoming corporate earnings season, which is expected to reinforce confidence in corporate health.
Elsewhere, the news was less favorable for consumers. OPEC+ announced it will extend production cuts, a positive for oil stocks but a potential drag on household budgets. At the same time, the 30-year mortgage rate inched higher, pressuring both consumers and homebuilders.
One consequence of the government shutdown is the lack of economic data. For example, there was no Jobs report this week, and if the shutdown lasts past next week, investors won’t get the latest CPI and PPI readings on inflation. That’s even more reason to count on the MarketBeat analysts to keep you tuned into what's moving the market. Here are some of our most popular stories this week.
