The Greek crisis has been rocking and roiling markets in recent weeks, but market analysts say they're getting ready for some home-grown volatility to shatter stock-market gains.
D.C. political bickering over spending will soon be back.
To tackle debt problems in the U.S., a congressional Super Committee, officially known as the Joint Select Committee on Deficit Reduction, is at work trying to find ways to shave between $1.5 trillion off the country's deficits.
The ‘Unthinkable’ Could Happen — Wall Street Journal
Over one million Americans have heard the evidence for 50% unemployment, 90% stock market crash, and 100% inflation. Be prepared. Watch the Aftershock Survival Summit Now, See the Evidence.
If it fails to do so by Thanksgiving, Congress will automatically make $1.2 trillion in cuts already worked out — half from defense budgets and half from entitlement programs — as part of an August deal to steer the country away from default by lifting the government debt ceiling, although some are calling for a review of even the automatic cuts.
|(Getty Images photo)
Analysts are getting ready for a fresh political impasse among Democratic and Republican lawmakers, similar to what happened over the August debt-ceiling impasse, out of which the Super Committee was born.
"I think we might get a little more focused on the headlines out of D.C.," says Barry Knapp, head of equity portfolio strategy at Barclays Capital, according to CNBC.
"We have five non-holiday weeks left in the year. The window is closing. I'm not as bullish as I was either a month ago, because of prices and because of time. You're running out of time for a year-end rally and the outlook for the beginning of the year is not that great."
Others agree, Europe will be out and the Super Committee will be in.
"Wall Street works off expectations, not events," says Stan Collender, a congressional budget analyst with Qorvis Communications in Washington, according to the Christian Science Monitor.
"I don’t think there’s any expectation that the super committee is going to succeed."
© 2016 Newsmax Finance. All rights reserved.