Fall budget battles loom as Congress begins 5-week recess, potential market catalyst ahead
Another tough week for the US markets as the S&P 500 stands about 1 percent shy of the 2100 level. Of particular note was that the Dow closed Friday lower for 7 straight down days, the worst losing streak since the summer of 2011. It was also the week Congress left on their 5 week summer recess, so we’ll have those “budget battle” debates again this fall. Given the current state of the markets, allocations remain the same.
Another tough week for the US markets as the S&P 500 stands about 1 percent shy of the 2100 level. Of particular note was that the Dow closed Friday lower for 7 straight down days, the worst losing streak since the summer of 2011. It was also the week Congress left on their 5 week summer recess, so we’ll have those “budget battle” debates again this fall. Given the current state of the markets, allocations remain the same.