Frager Factor

Sunday, October 06, 2013

Tech Stocks Partying Like It's 1999 (But Maybe Not For Long)


According to CNN Money: "The ongoing federal government shutdown is a big cloud of uncertainty hanging over the stock market.

Investors will have their eyes trained on Washington this week to see whether Congress will reopen the U.S. government and -- more importantly, some say -- avoid default by raising the federal debt ceiling.

Treasury Secretary Jack Lew warned the U.S. could default in just over a week. He said Congress was "playing with fire," and chastised lawmakers for the "irresponsible and reckless" government shutdown, in an interview with CNN's State of the Union with Candy Crowley.

The uncertainty dragged markets largely lower last week. The Dow lost 1.2% and the S&P 500 gave up 0.1%."

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