The markets were in slipping and sliding mode since I posted last week’s Model Portfolio report, but yesterday’s rebound rally brought the S&P 500 almost back to where we started 5 trading days ago; the loss was a meager 2 points. Hopes for a short-lived government shutdown prevail, which helped power yesterday’s rally. Of course, the debt ceiling debacle lingers …
Stocks Ignore Shutdown; Buyers Step In
[Chart courtesy of MarketWatch.com] After falling to a three-week low yesterday, U.S. equity markets closed the trading session higher to begin the new month and quarter, led by some upbeat manufacturing activity data despite the first partial government shutdown in 17 years. Investors for now appeared confident that the situation would be short-lived. After dropping seven out of the past …