Friends
After last night’s embarrassment for Speaker Boehner, stocks sold off today as traders are becoming less convinced that a “fiscal cliff” deal is soon to be had. No, the Speaker could not even garner the votes for his “plan b” from his own troops. As I mentioned yesterday, it truly is becoming comical.
For the day, the Dow Jones Industrial Average was down 118 points to close at 13,193. The S&P 500 was down 13 points to finish the day at 1430. Gold was up $9 to trade at $1655 per ounce, while oil was down $1.34 to trade at $88.79 per barrel WTI. The bulls will be satisfied that 1425 held on the S&P which seems to be the short-term line in the sand for the technically inclined.
Well, that is all for today. Time to prepare for the Christmas holiday. Monday is only a half day of trading for Christmas Eve, so we’ll just check back with you on Wednesday. Everyone have a wonderful Christmas.
