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Newspaper
Bluefield Daily Telegraph
Location
Bluefield, West Virginia, United States of America
Date
Dec 01, 2012
Page
8
The market closing shows light, sweet crude trading at 88.81 dollars a barrel as traders weigh supply data and demand outlook amid lingering tension on markets. Analysts note the price level reflects cautious optimism about global demand and ongoing production discipline by major exporters.
Stocks ended the week near where they began as Washington lawmakers worked on a budget accord. The Dow closed at 13,025.58 after inching higher earlier, the S&P 500 rose 0.23 to 1416.25, and the Nasdaq fell 1.79 to 3010.24. Consumers cut spending 0.2 percent in October, with no income growth, signaling weaker near term growth due to Superstorm Sandy.
President Obama urged extending Bush era tax rates for couples earning 250000 or less while raising taxes on the wealthy, arguing a middle class tax hike would be a bad Christmas move. Boehner called talks stalemated as he warned against a 1.6 trillion tax increase, saying negotiations were going nowhere.
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