Fiscal Cliff Talks Remain at Forefront as Stocks Post Weekly Declines
Equity markets posted gains into the close of the week, helping to remove some of the losses posted previously, after the Republican Congressional leadership in the US met with President Obama and later released comments to the media suggesting that the conversations were “constructive.” These conversations were based heavily on the US budget and the question of whether or not each of the major political parties will accept a reasonable balance of spending cuts and tax increases before the end of the year.
Positive stock stories were seen with Alcoa and Home Depot (both higher by 1.5%, encouraging for large companies), and some attention was also given to FaceBook, which rose by 6.3% after expanding its list of retail partnerships that allow its users to buy advertised products and to send them to other users.
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