After a nice opening pop on better-than-expected jobless claims, markets have turned lower. As of this noon-ish posting, we’re down 30 points or so on the Dow and many of the momentum faves are in the red.
The proximate cause looks to be a combo of some profit-taking and the fact that Democratic congress member are in a snit over the Chief’s compromise.
Here’s a quick idea of what’s happening in Washington (CNN):
Defying President Obama, House Democrats voted Thursday not to bring up the tax package that he negotiated with Republicans in its current form.
“This message today is very simple: That in the form that it was negotiated, it is not acceptable to the House Democratic caucus. It’s as simple as that,” said Democratic Congressman Chris Van Hollen.
“We will continue to try and work with the White House and our Republican colleagues to try and make sure we do something right for the economy and right for jobs, and a balanced package as we go forward,” he said.
Source:
http://politicalticker.blogs.cnn.com/2010/12/09/house-democrats-defy-obama-on-tax-cut-bill/
… [Trackback]
[…] Find More here on that Topic: thereformedbroker.com/2010/12/09/markets-turn-lower-as-house-dems-kill-tax-deal/ […]
… [Trackback]
[…] Find More Info here on that Topic: thereformedbroker.com/2010/12/09/markets-turn-lower-as-house-dems-kill-tax-deal/ […]
… [Trackback]
[…] Read More on that Topic: thereformedbroker.com/2010/12/09/markets-turn-lower-as-house-dems-kill-tax-deal/ […]
… [Trackback]
[…] Here you can find 68092 additional Information on that Topic: thereformedbroker.com/2010/12/09/markets-turn-lower-as-house-dems-kill-tax-deal/ […]
… [Trackback]
[…] Here you can find 77934 additional Info on that Topic: thereformedbroker.com/2010/12/09/markets-turn-lower-as-house-dems-kill-tax-deal/ […]
… [Trackback]
[…] Find More to that Topic: thereformedbroker.com/2010/12/09/markets-turn-lower-as-house-dems-kill-tax-deal/ […]
… [Trackback]
[…] There you can find 40217 additional Information on that Topic: thereformedbroker.com/2010/12/09/markets-turn-lower-as-house-dems-kill-tax-deal/ […]
… [Trackback]
[…] Here you will find 12503 more Information on that Topic: thereformedbroker.com/2010/12/09/markets-turn-lower-as-house-dems-kill-tax-deal/ […]
… [Trackback]
[…] Information to that Topic: thereformedbroker.com/2010/12/09/markets-turn-lower-as-house-dems-kill-tax-deal/ […]
… [Trackback]
[…] Info on that Topic: thereformedbroker.com/2010/12/09/markets-turn-lower-as-house-dems-kill-tax-deal/ […]
… [Trackback]
[…] Find More on that Topic: thereformedbroker.com/2010/12/09/markets-turn-lower-as-house-dems-kill-tax-deal/ […]
… [Trackback]
[…] Read More Info here on that Topic: thereformedbroker.com/2010/12/09/markets-turn-lower-as-house-dems-kill-tax-deal/ […]