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Global Market Wrap-Up - December 24, 2012

Monday, December 24, 2012
Mark Hanna
U.S. markets finished out a shortened holiday session with modest losses as most traders were away for the day. The S&P 500 fell 0.2% and the NASDAQ 0.3%. There was no major economic news as all eyes remain on the fiscal cliff negotiations. Prospects remain bleak for any serious solution and now the talk is of a short term band aid to get through the early part of 2013.

Oil fell 0.2% to $88.50 while gold fell fractionally to $1659.50. Silver fell 0.6% to $30.02.

Germany was closed while British shares gained 0.2% and French shares fell 0.2%.
  • Italy's Mario Monti said this weekend he may consider a second term as prime minister if asked by parties committed to the economic reforms he began over the past 12 months. Monti has been credited with restoring confidence in Italy, as well as with its eurozone partners and investors, thanks to his commitment to reduce government borrowing and introduce economic and political reforms.
China gained 0.3%, while Japan was closed.

Have a great Christmas and we'll see you back here Wednesday.