As the impasse in Washington drags closer to the Thursday debt ceiling deadline, the wait-and-see approach adopted by many Americans has had little effect on the stock market. Government entities haven’t been as fortunate. Furloughed workers and the closing of agencies, including the Energy Information Administration (EIA), are feeling the heat from the bitter political standoff. Traders expressed optimism at a truce as stocks gained over the past week, but issues loom if the stalemate is not solved shortly.

Russ Koesterich, Chief Investment S...


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