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Dow Jones Industrial Average: Evening Report (12/1/2011)

  • The market traded in a tight range today, closing slightly lower. I don't expect much of a move tomorrow, although with the jobs report being released tomorrow, I expect more action than today.
  • The European debt crisis has yet to be resolved. I believe the IMF will end up bailing out Italy and Spain and that this could happen within the next few weeks to months.
  • I'm bullish on this market and we'll see what the jobs numbers tell us about the state of the economy tomorrow.
  • EU governments agreed to impose new sanctions on Iran. The sanctions will be drawn up in time for the meeting of the foreign ministers in January 2012.
  • Small business lending is continuing to post double digit increases.
  • Should congress not extend unemployment benefits and the payroll tax credit, set to expire at the endĀ of the year, the probability of an economic contraction would increase.
  • The US imposed sanctions on Iran's central bank. The move could cripple Iran's economy.

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