Chaos Rules In DC And London, But Markets Don't Care: Here's What You Need To Know

uk, student protests, dec 2010

Wild day. Markets yawn.

But first, the scoreboard:

Dow: -7
NASDAQ: +6.18
S&P 500: +4

And now, the top stories:

  • Overnight there was precious little action in Asia or Europe. China was down somewhat sharply, as everyone waits for anticipated interest rate hikes.
  • But as the day wore on, there was some fairly big political action. London saw HUGE student riots (pictured) over a tuition hike — a taste of PIIG-like austerity riots. There was also fresh worry about whether Ireland would approve its bailout.
  • And in the US the democrats officially threw a huge wrench in the tax plans, voting in caucus against the deal Obama struck with Republicans.
  • There were two big macro events in the US: A 30-year auction with a surprising amount of demand (bond vigilantes can live another day), and a decent initial claims report at 8:30.
  • In the end, on the markets front: snoozefest.
  • Check out insane pictures of the student riots right here >

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