(As of 7:15 am pacific)
All eyes are on the White
House. Economic reports and earnings
announcements take a back seat to the all important meetings being held which
include party leaders from the House and Senate, as well as business leaders. It seems that global growth is contracting as
the worries of the US fiscal cliff cross to other borders. Europe has drifted back into a technical
recession by a small margin. Key commodities are close to unchanged. There is an overwhelming negative sentiment
in the markets at this time, and barring a major breakthrough there it is
likely to be another negative day on the markets. Tensions in the Middle East
compound the economic turmoil.
