STTG Market Recap January 3, 2013

From Stock Trading To Go
January 3, 2013 - 5:53pm

Stocks digested the large two day move in an orderly fashion Thursday. Despite a large beat in the monthly ADP Employment data (+215,000 vs +133,000 expected) markets had come a long way in just two sessions and only reacted mildly. Then late in the day the Federal Reserve minutes from the last meeting were released and the simple fact a few members had even broached the topic of ending "free money forever" more quickly than the market had anticipated caused selling; markets went from green to red in quick fashion. The S&P 500 fell 2.1% and the NASDAQ 0.38%Original post: STTG Market Recap January 3, 2013

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