U.S. Stocks Gain Despite the Government Shutdown
Even amidst the political battle that sparked the first U.S. government shutdown in 17 years, investors seem to be unfazed and stocks are advancing. The Dow Jones Industrial Average gained 63 points in midday trading. The Nasdaq Composite Index also rose 39 points, while the S&P 500 witnessed a 13 point increase of its own.
Trading experts state the markets had been anticipating the gridlock and expect the shutdown will be short-lived, but buyers in the stock market have shown slight hesitation. The possibility that the partial shutdown will last longer than expected, as well as the uncertainty surrounding debt-ceiling talks and the economic effects (all amidst political dysfunction) have been their main issues for concern. But people managed to sell what they wanted and overall selling is currently easing up.
Whether or not the stock market bounce is sustainable will remain to be seen in the coming weeks, especially if the political disputes are dragged out. So far, however, things are looking okay and traders are continuing to do business as usual.
