How To Protect Your Portfolio If There Is No Debt Ceiling Deal

Congress has always ended up raising the debt ceiling—that’s 21 times since 2000, so far despite each time being a headache—so the chance of default are very low, notes Jeffrey Kleintop. He discusses how futures are lower following the latest retail sales data. He talks about portfolio protection if there's no debt ceiling deal. He suggests considering buying Japanese assets, consider buying precious metals, and consider buying long-term U.S. treasuries. He then goes over how President Biden and Congressional leaders are scheduled to resume debt ceiling talks today. He then highlights upcoming ecodata this morning including NAHB Housing Market Index, Industrial Production, and Business Inventories. Finally, he mentions how Fed rate hikes will impact the debt ceiling talks. Tune in to find out more about the stock market today.