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Lasting effects of the government shutdown

Big Data Download

The government may be back up and running, at least for now, but the 16-day shutdown will have some lasting impacts on the markets as well as on consumer confidence, according to one analyst.

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"We're seeing a dropoff in industrials, a dropoff in telecom and really seven of the 10 S&P 500 sectors have seen really a pullback in earnings growth," said Rich Peterson, market strategist at S&P Capital IQ.

Earnings estimates for industrials, the sector worst hit by the shutdown, fell 8.6 percent since Sept. 30, according to S&P Capital IQ's data. Telecoms were the second-worst hit, with earnings estimates for those companies falling 2.7 percent.

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And since the agreement to reopen the government lasts only until Jan. 15, consumer confidence will likely lag during the holiday season, Peterson added.

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