Friday Morning Cheat Sheet: 3 Stories Moving Markets
The United States continues to stumble through the second week of a partial government shutdown and is now just six days away from exceeding its borrowing authority.
The situation is somewhat grim, but U.S. equity markets all but celebrated on Thursday in light of news that House Republicans made the first move on the debt ceiling. Speaker of the House John Boehner (R-Ohi0) and other leaders of the Republican Party met with President Obama late on Thursday afternoon and proposed that the two sides pass a clean, short-term debt ceiling deal in return for a commitment to negotiate on other issues like the Affordable Care Act and longer-term spending cuts.
But it’s unclear if any progress was actually made. As Rep. Paul Ryan (R-Wis.) put it, Obama “didn’t say yes, he didn’t say no.”