Taper talks were seemingly cast aside this week as Wall Street turned its attention once again to Washington. As Congress continues to struggle to come to a bipartisan budget agreement, the U.S. federal government has officially shut down, closing the doors on all “non-essential” operations. The prospect of a protracted government shutdown has weighed heavily on the markets, pushing major U.S. stock indexes into red territory. On the economic front, the Labor Department reported initial jobless claims rising to 308,000 last week, just shy of the expected 314,000 figure. The Labor Department noted that it will not issue its highly anticipated September jobs report on Friday because of the government shutdown [see The Best (And Worst) Performing ETFs For Every Quarter].
Below, we highlight seven insightful articles circulating around the financial space this week:
- Don’t ask an economist for stock picks (Dividend.com)
- Do Fed announcements mark major market tops & bottoms? (TheArmoTrader)
- 10 stealth economic trends that rule the world (The Atlantic)
- Taper, shutdowns, and default – welcome to Washington (Institutional Investor)
- JP Morgan’s legal tab piles up (Quartz)
- Buying the shutdown (Guggenheim)
- Eurozone’s calm before the storm (Project Syndicate)
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Disclosure: No positions at time of writing.