Equity Indexes Go Vertical On Fiscal Cliff Hope; Eerie Chart Of The Day; Europe Tracks Higher

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[Chart courtesy of MarketWatch.com] US equity indexes extended gains into a second session with the S&P 500 index hitting its highest level in two months amid signs of progress in Washington in reaching a deal to avert a hike in taxes and steep spending cuts next year. Stocks surged higher after House Republicans held a news conference to say they …

Hopium Lifts Equities As Budget Talks Are Still Alive; Europe Turns Lower On Cliff Worries

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[Chart courtesy of MarketWatch.com] Led by gains in financial stocks, US equity indexes pushed higher with the S&P 500 logging its biggest gain in about a month, as markets weighed news of progress on budget negotiations in Washington to avoid tax hikes and spending cuts that may tip the economy back in recession. With about two week weeks remaining to …

Heading South As Budget Logjam Saps Confidence; Europe Tracks Lower

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[Chart courtesy of MarketWatch.com] US equities fell today as the public standoff between the Republicans and Democrats in reaching a deal to avert recession-inducing tax hikes and spending cuts in the New Year overshadowed a drop in jobless rates and growth in retail sales. Ohio Republican John Boehner criticized the Democrats for looking to punish small businesses through tax hikes …

One Man’s Opinion: Will Tax Hikes Push The US Economy Back Into Recession?

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  Friday’s better-than-anticipated jobs number makes it a little bit easier for President Obama to hike taxes on the wealthy, says Barry Knapp, Head of Equity Strategy at Barclays Capital. However, on close examination, you’ll see earnings-growth has been very tepid and total hours worked has remained flat.  In other words, every one-tenth of that total hours worked is worth …

Major Indexes Ride The Fiscal Cliff Roller Coaster; Funny Quote Of The Day

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[Chart courtesy of MarketWatch.com] As I mentioned yesterday, increased market volatility is pretty much guaranteed to stay with us, and swings in either direction will depend on the latest announcements as to any progress in the fiscal cliff negotiations. That’s what happened today, as the indexes yo-yo’d up and down depending on who was making a speech or giving the …