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Negotiations Cause Cautious Optimism and Lift Markets Up on Friday (JPM, DELL)

By: , dated November 16th, 2012
Talks between different members of Congress began on Friday and lifted Wall Street up by close of the bell. US indices were mostly unchanged but new hopes formed after the meeting was deemed constructive.  Also after the talks US Treasury prices rose, pushing yields to their lowest since August and the US dollar hit a two-month high. In earnings news, Dell (DELL) dropped to its lowest point in over three and a half years after reporting a weak third quarter. Most other stocks in the tech industry closed with gains. Sears (SHLD) plunged 14.1% and reported a 3.1% drop in sales. Fighting has intensified in the Middle East causing oil prices to increase on supply concern; crude futures for December delivery rose 1.4%. Industrial production reportedly dropped in October by 0.4% due to interruptions from Hurricane Sandy.

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