White House says:
- Middle Class Americans to join Obama for statement.
Reaction details (18:58)
- Following this announcement, and alongside source comments on an emerging fiscal cliff deal, e-mini S&P moves 5 points higher from 1403 to 1408 over 2 minutes and trades at fresh session highs.
- T-notes trade at fresh lows; trading down 9+ ticks at 132.21 last.
- Spot gold trades at fresh intra-day highs, with gains of USD 13.4 over the past 20 minutes; trades USD 1,676.75 last.
Analysis details (18:59)
- The announcement of a statement from Obama comes at the same time as sources outlining an emerging fiscal deal and supporting comments from a senior Republican aide; combined these statements imply a deal is nearing and hence markets are demonstrating renewed optimism heading into the midnight deadline.
31 Dec 2012 - 18:41 - Equities Economic Commentary - Source: Newswires
RANsquawk provides audio news and commentary for over 15,000 professional traders and brokers worldwide. Services include: