Markets did not move much today, with Europe still in turmoil. Volume was very light, as everyone is getting ready for the holiday.
First, the scoreboard:
- DOW down 0.04%
- NASDAQ up 0.28%
- S&P 500 up 0.13%
Now, the headlines:
- It was a quiet night in Asia, though there are some geopolitical concerns making markets skittish. There threat of further disturbances on the Korean Peninsula remains, as North Korea has promised to respond to new South Korean military drills. There’s a reason why everyone is concerned about North Korea: their military power >
- Europe was a bit more chaotic, as pressure continued to rise on the broader eurozone. An agreement on future bailouts was made, but it has yet to be approved and won’t go into effect until 2013. CDS spreads are widening and bond yields are surging, while the euro is tanking; not good for Brussels.
- The U.S. opened lower, and moved higher as the day went on. Everyone was already over the big news that the tax deal was approved by the time the market opened.
- The government is likely to find a solution to the Build America Bond problem, in which the new Republican Congress will approve some sort of substitute.
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