as of 7:00 AM, PST
December 26, 2012
Hope springs eternal! Investors move the market forward hoping that President Obama’s shortened vacation means that there is hope for a ‘cliff’ solution prior to year end. Oil is up sharply and gold is up moderately, with most other commodities mixed. Short term interest rates have ticked up slightly, while the dollar is generally down against other currencies after the US was put on a negative credit watch. Retail sales for the Christmas season were disappointing. Expect a sharp rise in volatility as the week moves on.
