Here's Why The Market Is Only Up A Little Despite 'Major Progress' On The Fiscal Cliff

The headlines this morning are all about “major progress” on the Fiscal Cliff. The two sides are very close to a deal.

And yet the S&P is up just about 0.3%. Pretty meh, right?

Well it’s actually a little bit more impressive than you might think.

That’s because on Friday, futures continued to plunge after hours, as word of a bad White House meeting trickled out.

So to really compare the change in sentiment, we should look at the futures now vs. where the futures ended on Friday.

And there, per FinViz, you see moves of over 1%.


That still hasn’t erased all of Friday’s actual market losses, but today is a pretty solidly risk on day.

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