The Bear Takes a Breather as US Stocks Stage a Modest Rally
Today Despite an ugly start to the day the S&P 500 (INDEXSP:.INX) finished modestly higher following three straight days of decline. In pre-market trading sentiment was most definitely negative. Ratings agency Fitch said the US risks entering a recession unless policymakers implement a solution to the fiscal cliff next year. Meanwhile Europe was in a funk with Reuters reporting that a senior EU official said that finance ministers are unlikely to make a decision to release emergency funds to Athens at an important meeting on Monday. We also saw continued selling in momentum icon Apple (NASDAQ:AAPL) and crude oil ...
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