Nobody should be predicting stock markets due to the sheer uncertainty the debt-ceiling debate is inflicting on the country, says Laszlo Birinyi, head of Birinyi and Associates.
"There has never been a period in our experience where there have been so many factors, inputs and issues directly and indirectly affecting the stock market,” Birinyi says in a note, according to CNBC.
"Many of them are, frankly, beyond our capabilities and competence."
The government has asked Congress to raise its $14.3 trillion debt ceiling or else it will default on its obligations by Aug. 2.
Lawmakers are at odds over terms attached to raising that ceiling, with Republicans saying no tax hikes and Democrats saying the government needs new revenue streams.
Add to that uncertainty, Greece's woes have been threatening to spread elsewhere in Europe, and the fallout from U.S. financial and healthcare regulation laws are clouding horizons as well.
"It's almost as if investors are having to invest with one eye open as they look around each corner, hoping not to be hit with a new 'headwind,'" says Brian Sozzi, an analyst with Wall Street Strategies, according to CNBC.
"What has been happening for the past year is something generally not taught in books."
Some executives like Abhi Talwalkar, CEO of LSI, a U.S. electronics company, are growing in concern.
"Frankly, I'm a bit embarrassed to be a U.S. citizen, and part of me is wondering whether our democratic process is ill-equipped to deal with the complexities of these types of problems," says Talwalkar, according to Reuters.
"If we did this as businessmen running companies, we'd be fired."
© 2017 Newsmax Finance. All rights reserved.