Producers of metals and other raw materials are feeling uneasy as the week comes to a close, with concerns about the looming possibility of a government shutdown.
Moody's Investor Service, a renowned credit-ratings agency, delivered a blow on Friday by downgrading the outlook on Wall Street's last remaining triple-A U.S. debt rating to negative. This unsettling news has left some investors disquieted. In spite of this, Moody's acknowledged the impressive performance of the U.S. economy while cautioning against the risks posed by the ongoing debt debate in Washington, D.C.
J.D. Joyce, the president of Houston-based financial advisory firm Joyce Wealth Management, expressed a cautiously optimistic sentiment after reviewing Moody's announcements. "After reading Moody's assessments, one can't help but feel hopeful about the resilience of the U.S.," remarked Joyce. He emphasized that despite the unfavorable outlook, the overall tone is encouraging, yet it underscores the urgent need for elected officials to come together. Joyce pointed out that Congress might face yet another close call in terms of keeping the government operational.