Federal Shutdown Possible In US
from Market Watch Hosted by BFM Media
Malcolm Polley of Stewart Capital Advisors gives his expectations for ISM non-manufacturing index data for March, whether rising food prices will significantly crimp consumer spending, earnings forecast for second quarter, and what happens if QE2 ends in the second quarter. Also he says a federal shutdown is possible if there is a prolonged impasse in Congress on budget cuts. If this happens, the credit markets will sell off going into the weekend, and there will be a negative reaction from the equity markets, but followed by a mild rebound with the market ending modestly lower.
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