State Street: US Government Shutdown Crisis Has Passed, Stock Market Awaits "Just Weak Enough" Data

According to Golden Ten Data, State Street's Head of Macro Strategy Michael Metcalfe stated that if the US government continues to shut down, further economic growth will be affected. Fortunately, the hurdle of the government shutdown has been overcome, which means economic growth will not be severely impacted. Investors are focusing on the employment data that was not released due to the government shutdown, weighing whether the Federal Reserve will cut rates again in December. Metcalfe pointed out that for the stock market to continue its rally, the data must be weak enough to prompt the Federal Reserve to cut rates, but not so weak as to trigger concerns about an economic slowdown.