Stocks surge to a gain of 2% during the first few hours of trading in 2013. The catalyst is none other than the resolution of the Fiscal Cliff that has been looming over the market for over a month.
While the news was taken as a positive by investors, there is still a lot that needs to get done in regards to the U.S. economy. The deficit is still an issue and the big headline we will be dealing with next is the Debt Ceiling debate.
With that being said, I expect the market to hold onto the gains today on the back of the Fiscal Cliff news, however the rally may be short-lived as investors begin to focus on the Debt Ceiling. I expect heavy volatility in January and the pullbacks should be used as buying opportunities.
Market expert and TV personality Matt McCall blogs about what is really moving the markets. He will emphasize Exchange-Traded Funds (ETFs) and individual stocks throughout the trading day.
No comments:
Post a Comment