Stocks React to Shutdown (or don’t, but we need a story)–UPDATED!!

September 27 (Friday): Dow Average: 15258.

September 30: “Stocks Tumble as Shutdown Nears.” Dow Average: 15129.

October 1: “U.S. Stocks Finish Higher: Government Shutdown Fails to Scare the Market.” Dow Average: 15191.

October 2: “Stocks fall as fears of protracted shutdown grow.” Dow Average: 15133.

October 3: “Stocks Fall on Third Day of Shutdown.” Dow Average: 14996.

Holy shit! The Dow hasn’t been that low since…August 21! OMHFG!

UPDATE!!
October 4: “Stocks rise on hope that DC will end its bickering.” Dow Average: 15072.

Hope springs eternal!

About J@m3z Aitch

J@m3z Aitch is a two-bit college professor who'd rather be canoeing.
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4 Responses to Stocks React to Shutdown (or don’t, but we need a story)–UPDATED!!

  1. Jeremy Sell says:

    Statistically stocks do really well in the months following a shutdown. That doesn’t concern me. If the debt limit kerfluffle turns ugly, however, things could get sketchy.

  2. lancifer666 says:

    Yeah, I always love these instant stock market oracles. If the market were so easily divined these cretins would be relaxing on their private islands and not giving the lead in to the weather forecast.

  3. pierrecorneille says:

    Lance,

    Have you read Deirdre/Donald McCloskey’s book, “If You’re So Smart”? She makes a very similar argument, although not exactly about stock-market oracles.

    James,

    I tend to be skeptical of such reports, too, but I do confess that when I see such reports, I sometimes lapse into believing “well, maybe they know something about the cause and effect of how the stock market works that I don’t.” Thanks for reminding me that my skepticism is probably well-merited.

  4. lancifer666 says:

    pierrecorneille,

    I have not read it, but I’ll check it out.

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