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Market recap: Stocks extended their losses into a third session today, as retailers took a hit...

Market recap: Stocks extended their losses into a third session today, as retailers took a hit after the holiday season posted weak sales and as investors looked to the next day’s resumption of budget talks. Home prices were a bright spot, gaining 4.3% in October from year ago levels and bolstering the view of an improving U.S. housing market. Oil climbed for the first session in three - driven largely by 'fiscal cliff' concerns - finishing at a two-month high of $90.98 a barrel.
Comments (2)
  • correction in the markets coming tomorrow
    26 Dec 2012, 05:43 PM Reply Like
  • The real correction will occur once the fiscal cliff talks have come to some perceived resolution and the confluence of debt limit talks resume and February retail sales and jobs report is released around Valentine's day. For now we'll be choppy to down until some stop gap measure is reached regarding the fiscal cliff, then the market will rally into February and correct steeply around mid-February. Mark my words.
    26 Dec 2012, 11:08 PM Reply Like
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