Showing posts with label Mayan calendar. Show all posts
Showing posts with label Mayan calendar. Show all posts

Thursday, December 20, 2012

TEOTWAWKI, but, Stocks Gain on Boehner's Plan B

Since, according to myths and Mayan calendars, the world is supposed to end tomorrow, this will be a short post, because most people have better things to do to prepare for annihilation than read about stocks, bonds and commodities.

Apparently, Wall Street traders aren't buying the hype - but, they still believe the Republicans and Democrats in Washington will work out a deal before January 1, 2013, because they keep buying stock.

The joke will be on them if the world ends tomorrow, because all that trading they've done will not have done them any good. The upside for the world ending on December 21 is that anyone who hasn't done their Christmas shopping until now will have saved a bundle. Also, the end of the world kind of puts the kibosh on the Zombie Apocalypse. No world, no zombies... or maybe this would be the kickoff party.

The biggest event of today was John Boehner pushing ahead with "Plan B" which would keep the Bush tax cuts intact for anyone earning less than $1 million a year. Traders apparently were happy with that prospect, as a little rally ensued after Boehner spoke, never mind that Harry Reid said the House bill was already a dead issue in the Senate.

If there's no tomorrow, then this would be good-bye, but, just in case those crafty Mayans were wrong, we'll be back tomorrow. Darn, everybody will have to go to work on Friday.

Dow 13,311.72, +59.75 (0.45%)
NASDAQ 3,050.39, +6.03 (0.20%)
S&P 500 1,443.69, +7.88 (0.55%)
NYSE Composite 8,516.43, +52.61 (0.62%)
NASDAQ Volume 1,685,494,500.00
NYSE Volume 3,656,370,750
Combined NYSE & NASDAQ Advance - Decline: 3574-1921
Combined NYSE & NASDAQ New highs - New lows: 250-32
WTI crude oil: 90.13, +0.15
Gold: 1,645.90, -21.80
Silver: 29.68, -1.438