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What Will Happen To Wall Street If the Government Shuts Down?

September 30, 2013

Stock of the Day

The closing bell on Wall Street has just rung, but the working day for Congress is far from over.  The Senate has rejected the House's bid to delay parts of ObamaCare, instead rewriting the spending bill to keep the health care law intact. Now that the bill is back at the House's doorstep, Congress has less than 10 hours to come to an agreement.

So all eyes are on Congress—that much is clear on Wall Street, as the Dow closed down nearly 1% today. The media's 24-hour coverage and doomsday theories certainly haven't helped instill any confidence.

Despite all of the hand wringing over a potential shutdown, I don't expect the world to end tomorrow. The most likely scenario is that Congress cobbles together a last-minute deal late tonight.

But even if it doesn't work out, I don't expect that stock market to be crippled the way many talking heads would have you believe.  In the event of a temporary government shutdown, commerce could be affected by issues like delayed shipping and airport delays.

There's no denying that the threat of a government shutdown has distracted investors. But with third-quarter earnings rolling out next Monday, I expect this macro-distraction to fade as the market refocuses on what should really determine trading: Sales and earnings. To get you prepared, I have a fresh list of 68 blue chip stocks that were upgraded or downgrade in my Portfolio Grader screening tool over the weekend.

Upgrades

Last Week's Holds, Now Buys

Symbol Company Name Quantitative Grade Fundamental Grade
AMAT Applied Materials, Inc. A D
BBVA Banco Bilbao Vizcaya Argentaria, S.A.  B B
BMO Bank of Montreal B B
CMI Cummins Inc. B C
CS Credit Suisse Group AG  B B
DELL Dell Inc. B C
EMR Emerson Electric Co. B C
GM General Motors Company B C
HES Hess Corporation B B
HPQ Hewlett-Packard Company B C
LTD L Brands, Inc. B C
VOD Vodafone Group Plc  B C
XRX Xerox Corporation B B

Last Week's Sells, Now Holds

Symbol Company Name Quantitative Grade Fundamental Grade
CCI Crown Castle International Corp. C C
EBAY eBay Inc. D C
MJN Mead Johnson Nutrition Company D C
SNN Smith & Nephew plc  C C
SWK Stanley Black & Decker, Inc. D C
TD The Toronto-Dominion Bank C C
TEF Telefonica SA  D C

Downgrades

Last Week's Buys, Now Holds

Symbol Company Name Quantitative Grade Fundamental Grade
ABV.C Companhia de Bebidas das Americas - Ambev  C C
ADM Archer-Daniels-Midland Company C C
ADP Automatic Data Processing, Inc. C C
BCH Banco de Chile  C C
C Citigroup Inc. C B
CB The Chubb Corporation C B
CHKP Check Point Software Technologies Ltd. C B
CPB Campbell Soup Company C C
CVS CVS Caremark Corporation C C
DFS Discover Financial Services C B
DVA DaVita HealthCare Partners Inc. C B
GWW W.W. Grainger, Inc. C B
HD The Home Depot, Inc. C B
IP International Paper Company C B
JPM JPMorgan Chase & Co. C B
KEP Korea Electric Power Corporation  C C
LVS Las Vegas Sands Corp. C B
MDT Medtronic, Inc. C B
NEE NextEra Energy, Inc. C C
PEP PepsiCo, Inc. C B
PFE Pfizer Inc. C C
ROP Roper Industries, Inc. C C
SIRI Sirius XM Radio Inc. B D
TSM Taiwan Semiconductor Manufacturing Co., Ltd.  C C
VFC V.F. Corporation C C
WYNN Wynn Resorts, Limited B C

Last Week's Holds, Now Sells

Symbol Company Name Quantitative Grade Fundamental Grade
ACN Accenture Plc D C
AMT American Tower Corporation D C
BEN Franklin Resources, Inc. D B
BF.B Brown-Forman Corporation Class B D C
BG Bunge Limited D D
CAT Caterpillar Inc. F D
CHT Chunghwa Telecom Co., Ltd  D C
CNQ Canadian Natural Resources Limited F C
DTV DIRECTV D C
EL The Estee Lauder Companies Inc. Class A D B
ENI Enersis S.A.  D B
FMX Fomento Economico Mexicano SAB de CV D C
GOOG Google Inc. Class A D C
KOF Coca-Cola FEMSA SAB de CV  D C
NVO Novo Nordisk D B
PEG Public Service Enterprise Group Incorporated D B
TROW T. Rowe Price Group D C
TS Tenaris S.A.  D C
UL Unilever PLC  D B
UN Unilever NV ADR D B
USB U.S. Bancorp F C
VLO Valero Energy Corporation D C

Sincerely,

Louis Navellier

Louis Navellier

 

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