- Still issues to deal with, but is hopeful Congress will get it done.
- "Grand bargain" too much to hope for with current congress, may be able to solve the problem in steps.
Reaction details (18:48)
- In immediate reaction to the remark that "it is not yet done" e-mini S&P fell 10 points from 1413.25 to 1403.25.
Analysis details (18:53)
- Heading into the speech from Obama markets were optimistic that a deal would be announced, however Obama simply confirmed that whilst progress is being made a deal has not yet been reached. This disappointment was the motivator behind the downside move in the e-mini S&P.
31 Dec 2012 - 18:46 - - Source: Newswires
RANsquawk provides audio news and commentary for over 15,000 professional traders and brokers worldwide. Services include: