Market Eyeing US Lawmakers And Any Action On The Budget

Market Eyeing US Lawmakers And Any Action On The Budget

There's a mixed tone early after an overnight rally flagged amid political turmoil in Washington, D. C. and concerns about more supply chain challenges. The coming decisions around the budget, debt ceiling and other issues on Capitol Hill really appear to be the focus this week in a big way. Arguably, the sooner things get done there, the better for the market. Uncertainty around all this could be part of the reason stock index futures lost ground as the overnight session moved along after initially being higher. Lawmakers might have a government shutdown on their hands unless they can agree to fund the government after its fiscal year ends on Thursday. The discussions on the debt ceiling have been woven into a $1 trillion infrastructure deal and a $3. 5 trillion budget reconciliation package. Turning to the supply chain issues, we heard last week that Nike (NKE) may not have enough sneakers to meet upcoming holiday demand. Costco (COST) just announced it will start rationing paper towel purchases again. The culprit: ships loaded with goods at ports in the US can't unload their cargo from overseas due to scheduling woes, long lines, and worker shortages across shipping, trucking, and railways,