We had a very turbulent month in which the markets pretty much rode on news from Washington about the "fiscal cliff" and the Presidential election. Hugh downdraft at the beginning of the month while an upsurge at the end of the month have us pretty much flat at the end of the month.
Today's Numbers
DJIA - +0.03%
SP500 - +0.02%
NASDAQ - -0.06%
Could see a much larger upside after getting pass the 50 DMA hump.
End of Month Numbers
DJIA - -0.50%
SP500 - +0.30%
NASDAQ - +1.10%
DECEMBER PREVIEW
The main concerns for the market right now is news from Washington about the fiscal cliff, whether or not the lawmakers can reach an agreement on policies. Also, one major concern that comes to mind that can decide the fate of the market at the end of 2012 is if a possible Greece exit from the Eurozone happen and Spain debt problems that can potentially escalate.
This upcoming week can set the tone for the rest of the holiday month. Here is what Econoday is saying:
"The spotlight is on the consumer as indicators start to report on holiday season activity. The highlight is Friday’s jobs report for November. But earlier, we see if motor vehicle sales rebounded from Hurricane Sandy while ADP hints at private payrolls. Updates also are posted for sentiment and consumer credit. With the manufacturing sector wavering, traders likely will give extra attention at week’s open to the Markit PMI and to the ISM manufacturing survey."
-Simply Economics (Econoday)
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