U.S. Markets open in 9 hrs 16 mins

Lasting effects of the government shutdown

Althea Chang
Big Data Download
Lasting effects of the government shutdown

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.

RELATED: ETF investors showing big influence over fund industry

"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.

RELATED: Why Retail Stocks May Not be the Right Buy Now

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

-- Comments, Questions, Suggestions? Tweet Us @BigDataDownload