Monday morning, the S&P 500 Index e-mini futures (ES-Z2) traded higher by 2.00 points to $1434.50 per contract. Traders and investors are now waiting to hear the news out of Washington D.C. regarding a new fiscal cliff deal. The latest news or rumor out of Washington D. C. is that president Obama has agreed to raise taxes on people making $400,000 in income instead of $250,000. Either way, a fiscal cliff deal is going to remain front and center throughout the rest of the week.
I suspect we will see the stock markets rise when a deal gets done, however, the rally could be short-lived after the announcement. Until a deal is announced, traders and investors should expect volatility throughout the rest of the trading week.
Monday night, the major stock indexes finished slightly higher on the session. The big winner was once again the Nikkei 225 Index (Japan). The Sensex Index (India) also traded higher after the central bank left interest rates unchanged. Traders can watch for some early strength in the Indian ADR's if the U.S. markets are strong. Some leading Indian ADR's that could be in play include Tata Motors Limited (ADR) (TTM), Infosys Ltd ADR (INFY), Wipro Limited (ADR) (WIT), and The India Fund Inc (IFN).
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It's Now All About The Financial Cliffhanger
Published 12/19/2012, 12:14 AM
Updated 07/09/2023, 06:31 AM
It's Now All About The Financial Cliffhanger
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