The Latest News:

  • The S&P 500 Index broke to new historic highs after Congress drafted a last minute proposal to extend to the debt ceiling.
  • “The focus is squarely back to where it is supposed to be, on earnings and the economy,” Frank Fantozzi, chief executive of wealth manager Planned Financial Services, said in a Wall Street Journal article. “The markets are confident in the direction they are heading.”
  • The markets will be bullish, but in a slow pragmatic manner,” Fantozzi added.
  • Analysts calculate that S&P 500 companies’ profits increased 1.1% year-over-year.
  • However, some economists are already warning that the prolonged government shutdown will reduce fourth quarter U.S. GDP numbers.

Guggenheim Raymond James SB-1 Equity ETF

For past stories in this series, visit our ETF Spotlight category.

Max Chen contributed to this article.