government shutdown

A week filled with significant events impacting the markets culminated in an unexpectedly strong September jobs report. Government Shutdown Averted; House Ousts McCarthy: The U.S. Congress managed to avoid a dramatic government shutdown just hours before the midnight deadline Oct. 1 by passing a...

On the heels of upheaval in the U.S. House of Representatives, Fitch Ratings remains unwavering in its stance on the country’s credit. A potential U.S. government shutdown following the removal of U.S. Rep. Kevin McCarthy as House speaker will not impact the nation’s credit rating,...

The role of U.S. House Speaker Kevin McCarthy (R-Calif.) is in jeopardy, as a member of his own party calls for his ouster following his endorsement of a temporary government funding bill. What Happened: As reported by Reuters, Republican heavyweight McCarthy voiced his confidence on Sunday that he...

The recent governmental funding extension has stirred a wave of criticism, including from former Trump adviser, Stephen Miller. He expressed his discontent regarding the extension on Sunday. What Happened: Miller voiced his dissatisfaction with Congress’ decision to avert a shutdown and...

Following the incident of Rep. Jamaal Bowman (D-N.Y.) triggering a fire alarm, former President Donald Trump has called for legal action. The ex-president deemed Bowman’s actions as ‘egregious’ and deserving of imprisonment. What Happened: As reported by The Hill, Trump aired his...

As we wrap up another eventful week, let’s take a moment to revisit some of the most notable happenings. The week was rife with speculations around a potential government shutdown, predictions on Federal Reserve actions, and possible contenders for the 2024 general election. From economists...

The U.S. stock market has weathered its toughest month of the year, with September adhering to its typical negative seasonality in terms of risk sentiment. Both the SPDR S&P 500 ETF Trust (NYSE:SPY) and the Nasdaq-related Invesco QQQ Trust (NASDAQ:QQQ) closed 5% lower this month. Bonds Sell...

The stock market took a hit on Friday as hard-line conservatives derailed House Speaker Kevin McCarthy‘s last-ditch effort to pass legislation aimed at averting a government shutdown. The SPDR S&P 500 ETF Trust (NYSE:SPY) declined by 0.2%, extending monthly drops to 5%, with September...

The travel industry has experienced a surge since coming out of the COVID-19 pandemic, fostering optimism for airline stocks. But now a potential government shutdown could temper some of this optimism, with air travel and its patrons poised to experience the repercussions firsthand. What...

The potential pause of government services on Oct. 1 casts a shadow on various sectors — not least of which are education and research institutions. Universities, colleges, and other educational entities face disrupted operations. Halted federal funding will stall initiatives, impact students, and...

As the possibility of a government shutdown looms, President Biden’s chief of staff, Jeff Zients, said that the Republicans are focused on a “shutdown and other extraneous issues that really have nothing to do with making people’s lives better.” According to...

Rep. Jamie Raskin (D-MD) brought a 62-hour ‘Shutdown Clock’ to President Joe Biden‘s impeachment inquiry to protest against the GOP’s focus on investigating the president and not the impending government shutdown. What Happened: The Maryland representative lambasted...

The Internal Revenue Service (IRS) is girding up for massive furloughs that could hamper important taxpayer services, as the threat of a government shutdown looms large. What Happened: The IRS plans to furlough a sweeping majority of its workforce, around 60,000 employees, if the government shuts...

In response to the impending government shutdown, the Federal Emergency Management Agency (FEMA) has announced plans to withhold $8 billion in disaster recovery funds, impacting 27 states and territories. What Happened: FEMA will withhold disaster aid until Congress replenishes its funds. This move...

The U.S. State Department has been actively planning for a possible government shutdown, said spokesperson Matthew Miller on Thursday. According to Reuters, the State Department has been engaging in contingency planning for several days. The focus of these plans is to identify the...