S&P500 snaps a six day winning streak to close lower $BBY:xnys
- Published: 14 December 2012
- Fiscal Cliff fears again dominated news headlines as investors become increasingly concerned about a potential pending recession as the deadline draws nearer. Later in the session markets were encouraged somewhat by news that Republican Senator John Boehner and President Obama will meet at the White House to broker a deal
- In economic news Jobless Claims fell for the fourth week in succession to a seasonally adjusted 343k claims. Producer Prices declined for a second month in succession as energy costs dropped the most in three years
- Major S&P500 sectors finished down with energy and healthcare leading the losses
- Apple continued its recent weakness by falling another 2% on news that it has made rival Google's Maps software available again on its iTunes Store
- Best Buy led the gains on the S&P500 surging 15.93% on takeover speculation
- DOW -0.56%, S&P500 +0.63% and NASDAQ -0.72%
- USD made some gains on fiscal cliff concerns. AUD was softer but holds 1.0500
- Gold was a little softer on a potential reduction in future QE, Crude pulled back 0.7%
