Toro
Diamond Member
Maybe the GOP'ers will consider not refusing to raise the debt ceiling, after 200+ down on the Dow.
Why? The debt ceiling vote had nothing to do with the behavior of the stock market today.
News Headlines
This is true. Today was because of the weak ADP jobs number. Also, there was tape painting on May 31 as funds drove up the market to make performance look better that it really was last month. That reversed today. Finally, the stock market has been whistling past the graveyard as of late, with a lot of bad news globally being brushed aside. Sometimes, bad news doesn't matter until it does. Having said that, the market may be setting up for a good rally Friday if the official jobs number isn't a disaster like it was today.
However, if the stock market really thought the US was going to default - not making an interest rate payment and avoiding a long-term solution, not a technical default of an interest payment being a few days late - today will look like a cakewalk compared to what is coming.