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Eagle Eye Opener

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The price of benchmark crude for February delivery fell 43 cents to $92.66 per barrel on the New York Mercantile Exchange on news that the U.S. Federal Reserve may not sustain its stimulus program much longer.

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The December jobs report showed the economy added 155,000 jobs last month and the unemployment rate ticked up to 7.8%. According to various consensus estimates, economists were expecting between 150,000 to 160,000 jobs added and a 7.7% unemployment rate.

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With the fiscal cliff agreement safely finished, many U.S. investors now believe that smooth sailing lies ahead for U.S. equity markets.

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In a move that aided overseas stock markets, President Obama and enough House Republicans that matter put together a deal to avert the fiscal cliff.

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With President Obama and Congress running out of time to act against the fiscal cliff, global markets seem bound and determined not to react too strongly.

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As we exit 2012, the euro has risen against the dollar, Greece has moved back from the precipice and bond yields in Spain, Italy and Greece have fallen.

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