As President Obama and Republicans returned to work this week, there isn’t a lot of investor optimism worldwide that an agreement will be reached before the January 1, 2013, deadline for many fiscal cliff changes.
Investors in U.S. retail company stocks ended the year with a lump of coal in their stockings as retail sales in the two months before Christmas showed the weakest growth since 2008.
Markets in Asia and Europe fell as House Republicans canceled a vote on a U.S. budget compromise and the window for arriving at an agreement with Democrats narrowed.
With Wednesday’s delisting of Focus Media Holdings, a $3.7-billion, Shanghai-based advertising agency, it now appears Chinese companies can’t get out of U.S. markets fast enough.
Investors in financials led yesterday’s broad U.S. market rally, with Bank of America (BAC) experiencing heavy call option trading, according to OptionMonster.
Indications from Washington that a fiscal cliff agreement is becoming more likely continued to boost emerging market stocks, sending them to their highest levels since May — while dropping emerging market volatility to its lowest level in eight years.