Wednesday marks day one of the government shutdown, with the key question being how long it will last before a funding deal is reached. The last time that the government closed was in 2018 over a border wall funding dispute. That shutdown spanned a record 35 days.
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The U.S. has experienced 22 government shutdowns since 1976, with each federal closure averaging 8.2 days, according to data compiled by Carson Research. The shortest shutdown, in 1980, lasted just one day. Several other shutdowns have lasted 2, 3, and 4 days.
Dan Niles Sees Stocks Edging Higher amid Shutdown
Niles Investment Management founder Dan Niles believes that the current shutdown could surpass the record of 35 days. At the same time, other factors, like third-quarter earnings, AI development, and the October 28-29 Federal Open Market Committee (FOMC) meeting, will ultimately guide the direction of the stock market.
“In summary, I believe that despite the potential for some near-term choppiness, the mkt will ultimately see new highs as it slowly grinds higher,” Niles said in an X post.
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