Analysis details (18:05)
... Markets have been sensitive to recent developments on the fiscal cliff, with earlier downside in riskier assets attributed to the comment from the US treasury that if congress denied request to raise the debt ceiling, President could veto denial, allowing debt ceiling to rise.
Markets have since pulled off worse levels, despite little development. Worth of note that the US treasury secretary Geithner is due to speak on the topic at 2100GMT (1600EST).
Apple have also pulled off worst levels but still down 4%. Financials currently the best performing, leading recent upside. Citigroup trade up 5.5% following the pre-market news that they are to cut over 11,000 jobs and to take pre-tax charge USD 1bln in Q4.
05 Dec 2012 - 18:03 - - Source: RANsquawk
RANsquawk provides audio news and commentary for over 15,000 professional traders and brokers worldwide. Services include: