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full menu of fresh economic numbers often determines what direction stocks are headed. But this week's flood of data, ranging from Friday's monthly report on employment to readings on factory orders and consumer confidence, might not move the stock market needle as much as usual whether the numbers impress or disappoint. Morgan Funds.
A stock slump and recession loom if lawmakers don't compromise before Jan. 1, when a host of tax increases and spending cuts that pleases neither side automatically kick ins.
The sides remain far apart: The my turn, your turn brinkmanship continued Monday when President Obama rebuffed a GOP counter proposal offered by House Speaker John Boehner, R Ohio, to the initial position Obama floated late last week.
Stocks Reebok One Distance end lower as investors keep eye on 'cliff'
"It would be surprising to see a significant market trend emerge in either direction," he says. "For investors, the surplus of uncertainty makes it emotionally difficult to commit to long term plans."
bit the S 500 and Nasdaq composite losing 0.2% each, the Dow Jones industrial average dropping 0.1%. After a point loss of 14, the Dow widened its distance from the 13,000 threshold, settling at 12,952. manufacturing shrank in November to its weakest level since July 2009. One reason for the downturn, the trade group reporting the decline said, is businesses' concern about the fiscal cliff.
said the consensus among market analysts is that Washington will forge a deal before the Jan. 1 cliff deadline. economic growth. economy next year," Spooner said. But until investors know what the details of a deal will be, "the market has arrived around a level which reflects the risk that is still out there."
Ric Spooner, chief market analyst at CMC Markets in Sydney, Reebok Classic Leather White
Not even the November jobs report out Dec. 7 is expected to pack its usual punch. Investors already know the number will be skewed by the Superstorm Sandy's impact.
But it's also because the market is focused on every rumor, new proposal, and negotiation update from the White House and the GOP in a very public disagreement on how to fix the nation's fiscal crisis.
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