Business News

Day After the FB Sell-Off

The U.S. economic calendar includes the Fed's monetary policy meeting on Tuesday and Wednesday, where analysts expect a 0.25% rate hike announcement. (LPL)

Another shutdown? Political risk is hardly new for investors, but markets may be increasingly focused on Washington, D.C. this week. Congress must agree to details on its spending bill by the end of the week or face another partial government shutdown. A shutdown, which we view as unlikely, would almost certainly be short-lived; but with 60 votes needed in the Senate, an impasse is possible. (LPL)

U.S. stock-focused funds took in $43.3 billion last week, a new record, according to Bank of America. Investor pessimism is at its lowest level since early this year.

Tween store Claire's, with 7,500 stores has filed for bankruptcy. It will restructure $1.9 billion in debt. The company started business in 1978. The company plans to emerge from Chapter 11 in September. Their voluntary Chapter 11 filing should allow them to keep operating while it works out a plan to turn the business around and pay its creditors. (Bloomberg)

With Northwest Quadrant Wealth Management, a Registered Investment Advisor I am Troy Reinhart.

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