Obama Meets with Congress on Cliff; Stocks See Fifth Day of Losses (BKS, PSO)

Stocks fell for the fifth session in a row on Friday as many continue to wait for a cliff deal. President Obama met with Congressional leaders this afternoon while the GOP is not meeting again until Sunday evening. The Standard & Poor's Ratings Services stated that budget talks are not expected to have an effect on the current ratings of the US government. Pearson (PSO) announced they will be investing $89.5 million in Barnes & Noble's (BKS) Nook unit that includes Microsoft (MSFT). Investors are calling this joint venture an "Online Education Dream Team." Advanced Micro Devices Inc. (AMD) fell almost 4%, leading the S&P 500 lower.
Oil futures gave up earlier gains and ended lower for the day on Friday.

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Published on Dec 28, 2012
By InvestorGuide Staff

Copyrighted 2016. Content published with author's permission.

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