S&P 500 Snapshot: "Cliff" Relief Rally Fades with Help from the Fed

From dshort.com - Advisor Perspectives
January 3, 2013 - 6:16pm

Jan 03, 2013 Doug Short  The Cliff-avoidance relief rally fizzled at the open, trumped by the unexpected increase in initial unemployment claims. Some half-hearted buying took the S&P 500 into the shallow green, but the 2PM FOMC press release halted the buyers. Fed forecasts that QE3 would end this year was not what the market expected. The index closed the day with a loss of 0.21%. More...

Share this article »  

Continue reading this article »