With three weeks left before fourth-quarter earnings season, investors have little to ponder outside of Washington-D.C. drama, whether it be China trade negotiations, the Federal Reserve’s plan for future rate increases, or what appears to be an impending, partial government shutdown over disagreements over providing funding for increased fortifications at the U.S.-Mexico border.
After reports as late as Wednesday night suggested that the president and Congress had agreed on a plan to keep the government funded through Feb. 8, the deal fell apart Thursday, when president directed House Republicans to pass a funding bill that includes money to fund the expansion of the southern border wall.
The bill passed the House and has now been sent to the Senate, where there doesn’t appear to be enough support for passage, setting the stage for a partial shutdown at midnight Friday. President Trump is gearing up for the fight, tweeting that it will be the Democrats fault if a shutdown ensues.
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Craig Erlam
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