Markets slide lower as investors await fiscal cliff outcome $CPB:xnys
- Published: 05 December 2012
- US markets ended the session weaker as fiscal cliff fears continue to dominate headlines. With the deadline drawing nearer and US politicians still not able to agree on a deal, investors are taking on a more bearish tone
- Leading the moves on the S&P500 overnight were healthcare stocks which managed to make smalls gains. Consumer discretionary and tech stocks lagged
- Campbell Soup became the next major name to release a special dividend to investors ahead of the potential fiscal cliff deadline, which could potentially see a tax increase on dividends paid to investors. Nearly 100 companies valued at over $240Million have announced special dividends ahead of the fiscal cliff deadline
- Netflix rallied 14.01% after it announced a deal with Walt Disney to share content
- Pharma giant Baxter announced it would buy Swedish rival Gambro for USD2.76Bil
- DOW -0.11%, S&P500 -0.17% and NASDAQ -0.18%
- RBA cut the cash rate by 0.25% yesterday to 3.00%. AUD remains strong despite cut
- Gold pulled back 1.1% after heavy selling while Oil dipped on US budget concerns
