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SEPTEMBER 2023 Newsletter: Budget Bill Next "Headline Risk" for Stocks

September 13, 2023

Have you ever heard the expression, “It’s a headline risk for the markets?”

Headline risk is the chance that an unsettling news event–anticipated or a surprise–can add volatility to the financial markets.

Be prepared for some “headline risk” in September as Congress looks to pass a budget bill by October 1 for the 2024 fiscal year.

The Senate has completed much of its work for the new federal spending plan, but the House of Representatives still has a lot of work to do and only a tiny window of time to complete it. The schedule has House members returning to DC by September 12. Keep in mind that a short-term bill may get passed, too.

Headline risk is nothing new. The market was on pins and needles for several weeks in August, building up to Fed Chair Powell’s Jackson Hole speech. And it seems like the market “holds its breath” every month before each inflation update.

Nobody wants a repeat of May 2023, when lawmakers engaged in high-profile, high-stakes talks over the debt ceiling. The stock market was held captive to the ebb and flow of updates, falling when talks faltered and rising when an agreement seemed near.

We expect lawmakers will come to a resolution with little drama this time around, with the memory of the debt ceiling talks fresh on Wall Street’s mind. At least, we hope that’s how the budget negotiations end!

  • There are many self-service features that you have access to within Account View that can help save you time. 

Authorized user access updates
You have the option to grant access to additional users, such as family members or your accountant, and allow those trusted individuals to view and/or download financial information from your Account View profile.

Beneficiary updates
View, edit and add beneficiary information for Transfer of Death designations for individual nonretirement accounts, in addition to qualified retirement accounts. Not available for 401k, Coverdell and joint non-retirement accounts.

Mobile check deposit
Securely deposit checks digitally to non-retirement accounts held at LPL Financial through the Account View Mobile App.

Transfer Money via ACH deposits
Transfer money from an external bank account to an LPL non-retirement account within Account View. You have no limits to the amount of money you can transfer and funds are typically available for use in your investment account the following business day.

  • Detailed instructions to all the above features can be found on our Frequently Asked Questions (FAQ) page where you can find even more information relating to Account View, Account Deposit/Withdrawal, Account Maintenance, and Wealthvision/eMoney. We recommend bookmarking this page as we dynamically update it with relevant information.

  • Did you know? We regularly post our Market Insights to our website on a weekly basis, as well as to our Facebook and LinkedIn pages. Follow us and check our website to read our latest take on the markets.

Give Back To Your Community By Working As A Tax Volunteer

If you want to give back to your community and help people with low to moderate incomes, consider applying to volunteer with the Volunteer Income Tax Assistance (VITA) or Tax Counseling for the Elderly (TCE) programs. These programs offer free tax help to senior citizens, persons with disabilities, and those who speak limited English to understand their tax situations.

Here are some of the perks of being a VITA or TCE volunteer:

  • Flexible hours: Generally, volunteers contribute 3-5 hours per week. Some sites are open all year, but most programs are available from January–April.

  • Convenience: Thousands of VITA and TCE sites exist in neighborhoods across the country, so it's convenient to volunteer at a location close to you. Usually, these locations are in community centers, libraries, schools, and malls.

  • No experience needed: You don't have to be a tax pro to volunteer because all volunteers receive special training and can serve in various roles.

Tip adapted from

You enter a college classroom with 13 22-year-olds, 10 21-year-olds, and 14 20-year-olds. How many people are in the room? 


Last Month's Riddle: What is the longest word in English to have only one vowel repeated?
(Hint: It has 18 total letters, and the vowel repeats four times.)

Answer: strengthlessnesses