Stocks dipped on skepticism there will be a substantial budget deal. Stocks were off earlier lows on optimism budget leaders will come up with some sort of a quick fix before time runs out before the year-end deadline.
Historically, the day before Christmas sparks a so-called Santa Claus rally. That's when markets rise between Christmas and New Year's Day on positive investor sentiment and investment of year-end bonuses. Not so today, amid continuing concerns over the fiscal cliff.
At the close of the holiday-shortened session, the Dow and Nasdaq were was down .34% and the S&P was down .24%. Hewlett Packard (NYSE:HPQ), Microsft (NASDAQ:MSFT) and McDonald's (NYSE:MCD) were among big losers on the Dow.
Traders on the floor of the New York Stock Exchange did finish up with their traditional singing of "Wait 'til the Sun Shines, Nellie." Despite the dwindling number of floor traders, the song has been sung every year on Christmas Eve and News Year's Eve since the Great Depression.
Any ideas and opinions presented in all Market News Video clips are for informational and educational purposes
only, and do not reflect the opinions of BNK Invest, Inc. or any of its affiliates, subsidiaries or partners.
In no way should any content contained herein be interpreted to represent trading or investment advice.
None of the information contained herein constitutes a recommendation that any particular security, portfolio,
transaction, or investment strategy is suitable for any specific person. All viewers agree that under no
circumstances will BNK Invest, Inc,. its subsidiaries, partners, officers, employees, affiliates, or agents be held
liable for any loss or damage caused by your reliance on information obtained. Read Full Disclaimer.
X
Wait! Don't leave yet.
Want to receive our latest research absolutely free?
⤹
Click the button below for your complimentary copy of Your Early Retirement Portfolio: Dividends Up to 8.7%—Every Month—Forever.
You'll discover the details on 4 stocks and funds that pay you massive dividends as high as 8.7%.