With Congress unable to agree on a deal to fund the government past Monday, more than 800,000 federal workers are being furloughed without pay this week. In addition, government agencies are curtailing their services, and federal museums, parks and monuments are closed to the public.
Quantitative strategists at Bank of America Merrill Lynch noted in a report that previous shutdowns have been mostly positive for the stock market. But the big difference this time around is the rapidly approaching debt ceiling.
Many investors and analysts are skeptical of its current value. Even after Wednesday's dip, at $190 per share, Tesla is overvalued compared to where Wall Street analysts think it should be trading.
StockTwits user RamCwarned, " Read before buying," pointing to CNNMoney's article on how individual investors were cutting their exposure to the stock . "$TSLA A trap for small investors? http://stks.co/ektl."
IPO frenzy: The IPO boom continued this week despite the government shutdown. Three companies debuted and two of them quickly shot higher.
Real estate broker Re/Max(RMAX ) closed 22% higher, and Burlington Holdings(BURL), the owner of the Burlington Coat Factory, ended up 47%.
But the parent company of the iconic Empire State Building disappointed. Shares of the building's owner, the Empire State Reality Trust(ESRT), rose less than 1%. And that's after the company priced its offering at the low end of its range Tuesday night.