Institution: U.S. Government Sees Dawn of Reopening, Stock Market Awaits Data That's Just Right in Weakness

On November 12th, Michael Metcalfe, the head of macro strategy at Richard Bernstein Advisors, stated, "If the US government remains shut down, further economic growth will be impacted. Fortunately, we have ultimately cleared the hurdle of the government shutdown. This means we can relax as there will not be a substantial slowdown in economic growth resulting from a government shutdown." The US employment data may be the most anticipated data that was not released due to the government shutdown. Investors are weighing whether the Fed will cut rates again in December. Metcalfe said, "For the stock market to sustain its upward trend, the data must be weak enough to prompt a rate cut by the Fed but not overly weak to raise concerns about an economic slowdown." (FXStreet)