U.S. Stocks Rise as Apple Rebounds Amid Budget Talks (Bloomberg) U.S. stocks rose for a second day as Apple Inc. (AAPL) rebounded from its biggest drop in four years and investors weighed prospects for a budget deal in Washington. “Apple stock is taking a breather after a sharp selloff and that’s helping the overall market,” said Alan Gayle, senior strategist at RidgeWorth Capital Management in Richmond, Virginia, which oversees about $47 billion. “Most analysts continue to like their story. We’re seeing some validation of that. In addition, the jobless claims were better than expected. The data suggest the U.S. economy continues to heal and that will be the case as long as we don’t fall off the fiscal cliff.”
Market Missing One Thing: ‘Where is Everybody?’ (CNBC) With just a few weeks of trading left, 2012 is looking a lot like 2011 in one key regard: Investors still don’t believe in a stock market that keeps moving higher. How ever you measure it, it’s certainly true that there are just less people playing,” said Jim Paulsen, chief market strategist at Wells Capital Management. “I don’t really look at that as an indicator of (rally) sustainability. I do look at it as an indicator of where confidence is. People are fearful of the market and are questioning how much of their net worth they want to play with.”
Commodities: Gold and Grain Prices go Up ‘Predictions 2013’ (CNBC) Resources that come out of the ground hinge on everything from the weather to how easily it is found in nature. As a result, commodities can prove to be quite volatile and the effects can be far reaching. Record harvest will pressure grain prices. Gold will make another run for a record. Palladium market will swing to a deficit.
"A virtuous and industrious people may be cheaply governed." -- Ben Franklin I have to laugh when I read about the fight over the budget and the "fiscal cliff" coming our way, and the decision by both President Obama (a Democrat) and John Boehner (a Republican) that taxes must go up to pay for the deficit. What a joke! First of all, there is no evidence whatsoever that raising more taxes (either through higher rates or limiting deductions) will do anything to cut spending. In fact, tax
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