The S&P 500 just hit a "Generational Number"

The S&P 500 experiences an unprecedented decline in breadth

Highlights

• The S&P 500 experiences an unprecedented decline in breadth

• Powell’s “new phase” is code for a Trump-ready Fed…

• … as interest rates move higher in the last 3 months despite rate cuts

• Divided Congress risks a government shutdown, signaling gridlock to come

Key Takeaways

GOP Funding Plan Fails, Shutdown Near

• The Trump-backed GOP funding plan failed to pass in the House (the “nays” winning 235 to 174 with 38 Republicans rejecting the package — it’s obviously dangerous for anyone, even Trump, to play around with the debt ceiling when it arises next year) and hanging in the balance is a partial government shutdown at midnight.