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llo traders everywhere! Jeremy Lutz here with your mid-day market update for Tuesday, the 18th of December.
Stocks are moving higher as traders become more optimistic that lawmakers are closing in on a budget deal that will stop the U.S. from going over the "fiscal cliff" at the beginning of next year.
House Speaker John Boehner told reporters he remains hopeful that a budget compromise can be reached but, says President Barack Obama has yet to offer a balanced deficit-cutting plan.
Among stocks making big moves, Arbitron (ARB), a provider of radio ratings, surged after TV ratings company Nielsen said it would buy it for $1.3 billion.
Let's see what the Trade Triangles say about the markets today.
Every Success,
Jeremy Lutz
LOL! Santa Clause drives this rally. It usually starts around Thanksgiving and doesn't stop until the end of December. It's called the Santa Rally. It happens four out of five years. (See Stockcharts) 🙂 Merry Christmas Everyone!