The 3-week-long federal shutdown is starting to make Wall Street anxious

It’s Day 21 of the partial government shutdown. That ties the record for a standoff set in the 1995-96 budget battle between President Bill Clinton and House Speaker Newt Gingrich.

We are now seeing a rash of analyst notes warning that this will soon start to affect different businesses.

American Airlines shares fell Thursday because of lower revenue guidance and weaker-than-expected domestic performance in December. And Cowen warned about the effect of the shutdown on airlines.

”[T]he government shutdown will impact the industry’s corporate travel business the longer it lasts. American in particular has exposure to the government with its hub at Washington, DC Reagan National Airport. We believe government contractors are not traveling during this shutdown, and the longer it goes on, the greater the impact.”

Read the full article: Bob Pisani

No comments yet - you can be the first!

Leave a Reply

Your email address will not be published. Required fields are marked *

Keep the Fake News Media in check.

Don’t let the MSM censor your news as America becomes Great Again. Over 500,000 Americans receive our daily dose of life, liberty and pursuit of happiness along with Breaking News direct to their inbox—and you can too. Sign up to receive news and views from The 1776Coalition!

We know how important your privacy is and your information is SAFE with us. We’ll never sell
your email address and you can unsubscribe at any time directly from your inbox.
View our full privacy policy.