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Economic data, down just a little bit in the red today, down 22 points 37 yeah, it is the first trading day of the new month. December, a strong month historically for the stocks, but theres a push and pull going on between Market Forces and the Economic Data, and were in the red across the board, relatively flat this monday morning. The data, u. S. Manufacturing activity last month lowest level since the summer of 2009, but then we got a Construction Spending report that was good. In october, it rose by the largest amounts in five months, and then we got auto sales throughout the morning, and while they were decent, gm, toyota, and chrysler missed novembers estimates, but ford beat them. Thats the data and push and pull among the markets, back to you. Lauren, thanks so much. 12995 where it ends, nobody knows. Take ....
Session. And the s p 500 down 6. 70 points at 1409. December a historically good month for the markets. The s p has risen 8 of the past 1 years in the final month of yeert. With fears of the looming fiscal cliff, can the trend continue . Were bringing in mike from Yahoo Finance and cnbc and yahoo have a Business Alliance to share and coproduce editorial content and gordon along with bob pisani. Gordon will be along momentarily. Michael, let me start with you. You say this markets preoccupation with the fiscal cliff is overdone. Do you think we go back to the trend and that is that december is a good month on the upside for stocks . Definitely one of the tail winds. All else being equal, probably definitely a strong point for the market. I think this market is laboring to look through the interim noise. You had decent pmi numbers, with the ism disappointing and i think the m ....
About 2. 25 points. The market closing lower once again today, adding to the losses we have been seeing since the election. Is a deal in washington what investors are waiting for to get back into the game . Joining me now is ben pace from deutsch back private wealth management, Scott Collier and our own mandy drury. Good to see everybody. Ben pace, what is behind this selling, and when will it end . Whats your take . I dont think its really economic right now, maria. I think its pretty political. Every pronouncement weve heard over the last four, five days has decreased the likelihood were going to have a quick resolution of bargaining that has to happen in washington. Again, it has to happen. It increases the likelihood that we fall off the cliff for lack of a better term. We still dont think thats over the 50 probability. It was probably 25 to 30 mow. Thats why the markets are where they are. Theyre starting to hit levels now whe ....
About his election loss blaming what he calls gifts thats a quote, gifts, the president people gave to people who voted for him. Im wolf blitzer. Youre in the situation room. Mitd romney speaking out about his election loss for the tempers flaring on capitol first time and blaming it in part on gifts that the hill. Senator john mccain lashing out president gave to supporters. At one of our cnn producers who lets talk about that and more questioned why he was missing a with the republican governor bobby jindal of louisiana. Key hearing on the attack on the hes the new chairman of the republican governors u. S. Consulate in benghazi, association. Libya. Mccain has been a sharp critic congratulations by the way. I guess i got to say of the president and his congratulations on getting that job, governor. Thanks very much for joining us. Administration complaining lawmakers are not getting enough information. Thank you, wolf. And when asked why he missed great to be back on the air with tha ....
What is going on with this market, you have seen selling since the election basically. We are down six of the last eight weeks. Majority of the dow opponents have come under pressure. The vix, the fear index, to the upside. I cannot tell you how many people were asking me about todays jobs numbers. Obviously, we have had Hurricane Sandy to contend with. We have our bed numbers then and they were also disappointing. We are still remaining under pressure. Lori the fiscal cliff front and center this week. Rich edson is in washington with the latest. Rich since the election, they have been staking out their opening fiscal cliff positions. For the president and democrats, increase taxes on those earning more than 250,000 a year. Opposing republicans who want no increases. It is politically unsustainable and the policy makes no sense for them to say that nobody in the country gets extended tax relief unless higher income individuals ge ....