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Wall Street and the debt ceiling

Traders work on the floor of the New York Stock Exchange on October 7, 2013 in New York City. As the impasse continues between the Republicans and Democrats in Washington, the Dow Jones Industrial Average, the S&P 500, and the Nasdaq all dropped by nearly 1% Monday.

The International Monetary Fund is warning today that the global economy will face a shock if the United States doesn't sort out an impending mess as the government reaches the limit on borrowing.  The debt ceiling is the talk of Wall Street, but it isn't leading to much movement in share prices today. Juli Nieman, an analyst at Smith Moore and Company, tells us what Wall Street is saying.

About the author

Juli Niemann is executive vice-president for research and portfolio management with Smith, Moore and Company.

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