Wednesday, December 26, 2012
U.S. markets finished with moderate losses as trading resumed post holiday as the fiscal cliff continued to weigh on markets. Further, the first pass of holiday sales via Mastercard were released and the results were poor at +0.7% versus expectations of growth of 3-4%. Of course adjusted for inflation the data is negative. The S&P 500 fell 0.5% and the NASDAQ 0.7%.
- The S&P/Case-Shiller 20-city composite posted a non-seasonally adjusted 0.1% decrease in October following a 0.2% gain in September. Among the 20 cities tracked by Case-Shiller, 12 saw lower prices in October. Despite October’s decline, home prices increased 4.3% over the past 12 months — the largest annual price gain since May 2010 — with year-over-year declines seen only in Chicago and New York, according to the Case-Shiller report.
Crude oil gained 2.7% to $90.98, silver added 0.5% to $30.04, and gold gained 0.1% to $1660.70.
European markets were closed for the holidays.
Japan's Nikkei index gained 1.5%, and the yen continued its recent slide against the dollar. The Shanghai Composite ended up 0.25%.