For those of you who are worried about this fiscal cliff madness. This might help you. For those of us not concerned, Have A Happy Weekend!!
Originally posted on Reliance Investment Management:
Stock Markets Continue To Give Back their 2012 Gains
Fears of the Fiscal Cliff continued to weigh heavily on the stock markets during this past week. The S&P 500 reached it’s highs for the week soon after the markets opened on Monday morning. However the markets failed to hold their Monday morning gains and stocks soon began a slow and steady decline that continued throughout the week. The decline came to a halt around 11:00 a.m. on Friday when several Congressional leaders emerged from a meeting with President Obama and announced that they had agreed to a fast track negotiation process to reach a deal on the up-coming Fiscal Cliff.
Initially, the markets responded favorably to the news that progress was being made on the Fiscal Cliff. However, once market participants realized that nothing of substance was agreed to in the meetings with the Congressional leaders and President Obama, …
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