Markets Rally as Consumers Retreat During Shutdown

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Oct. 15 (Bloomberg) -- Bloomberg’s Jonathan Ferro examines the market rally during the U.S. government shutdown and how the uncertainty of the shutdown and debt ceiling are impacting consumer confidence. He speaks on Bloomberg Television’s “On The Move.”

Negotiating, the markets are up.

Your stocks on the move.

On the potential of a deal.

We do not have a dell.

For member the shutdown.

He said -- we do not have a deal.

Remember the shutdown of a president obama said -- the rally keeps coming before the delegates struck.

If you look at how the stock market was in 2011, the s&p 500 was down 5.5%. this time it is up one percent since the government shutdown.

Just 1% of a record.

We may be close to a deal but we have not got one yet.

There are no hot coals under the feet of officials.

What investors -- investors may not be overly cautious.

Corporate leaders have voiced concern.

And they have.

We should think about it this way.

Not just the debt selling but the partial shutdown.

What it means for growth.

Figures vary.

It could shave percentage points of gdp.

What about consumer confidence?

We caught up with the ceo yesterday.

Here's what he had to say.

Any time you turn the news that is all you are hearing about.

We think that anxiety that keeps customers, potential buyers on the sidelines when they are thinking about a big purchase like an automobile.

It is have an impact.

I think a lot of that has to do with the shut down.

That is strong the word of caution.

People not buying big-ticket items.

They would tell you the shutdown is temporary and reversible.

If we put it out for a couple of months, when do i regain the confidence to go out and buy?

Who knows.

Thank you so much.

This text has been automatically generated. It may not be 100% accurate.


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