Optimism for A Cliff Deal Puts Stocks on Track for Big Gains (BAC, DAL)

Several important reports were released on Tuesday indicating changes in controlling economic factors in the US. It was announced that the trade deficit during the month of October widened by 4.9% due to a large drop in exports. This slowing of global demand continues to negatively affect the US. Small business optimism fell off sharply in October to the lowest reading since March 2010. On a positive note, job openings rose to 3.68 million - a four-month high - as companies gear up to face the fiscal cliff. Despite hopes that a fiscal cliff deal is close, Senator Harry Reid commented on Tuesday that no deal will likely be reached before Christmas.
Delta Air Lines (DAL) announced it will be buying a 49% stake in Virgin Atlantic valued at $360 million. The tech industry continued to make gains today, leading the S&P 500. US Treasuries fell to record low yields after a three-year note auction.

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Published on Dec 11, 2012
By InvestorGuide Staff

Copyrighted 2016. Content published with author's permission.

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