(As of 7:15 am pacific)
It is quiet in most markets
today. It is a bit of a surprise because
political sniping is making the dive over the ‘fiscal cliff’ seem more
likely. It is possible that negative
momentum may take hold today, unless there is progress in resolving this
uncertainty. Gold continues its downward
plunge as it approaches $1700 p/Oz, while oil is slightly to the upside. Interest rates are stable. The trend of positive economic news is
continuing as the Chicago PMI, a key measure of industrial activity points to a
very slight economic expansion, though slightly below what analysts had
predicted. European news is good as the
Greek rescue plan appears on course.
