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Markets Finish Higher on Thursday Despite Lack of Fiscal Cliff Progress

By: , dated November 29th, 2012
The market continued to make sporadic dips throughout the day due to further fiscal cliff comments from John Boehner, but eventually rebounded at the close of the bell. Despite signs that an agreement may be close, investors’ worries will most likely continue until the issue is solved. Reports were released that retail sales for the past month were lower than expected even though Black Friday brought on numerous deals. Corporations such as Macy’s (M) and Target (TGT) saw shares drop as Hurricane Sandy had a greater impact on consumer spending. Research in Motion (RIMM) was up on Thursday after Goldman Sachs (GS) upgraded the company’s stock. Crude oil futures finally edged higher after three consecutive days of losses. Prices were due to positive data that showed the US economy grew faster than originally reported during the third quarter and that GDP expanded at a rate of 2.7% from July to September.

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