Stocks Continue to Drop After Obama Rejects GOP Offer, Pandora Disappoints (P)
The US markets saw little change on Tuesday but ended in the red as most continue to wait for news from the White House on the fiscal cliff and budget changes. President Obama publically rejected the most recent GOP offer and said the rates on the top 2% will have to go up. Netflix (NFLX) gained after announcing that it will be acquiring content from Disney (DIS), while Pandora (P) and Apple (AAPL) both dropped.It was reported that manufacturing in China grew the most in seven months in November, sending crude oil to its highest level in two weeks.
Word on the Street
- After a positive manufacturing report from China, crude oil rises to its highest level in two weeks.
- Shares of Pandora (P) tumbled in after hours trading after reporting a Q4 loss.
- Home prices rose 6.3% in October from one year earlier, the biggest gain since 2006.
- Netflix (NFLX) sees shares rise after making deal with Walt Disney Co. (DIS)
- US banks earn $37.6 billion or %6.6 during the third quarter.
- AutoZone (AZO) reports a strong net profit for Q1 but misses analysts' estimates.
- Can housing stocks and the holiday season help scale back effects of the fiscal cliff?
- Meet the top heroes of Inc.com's "Hire Power Awards," a group that is helping rebuild the economy.
Published on Dec 4, 2012By InvestorGuide Staff