Stocks: Still stuck in fiscal cliff rut

  @CNNMoneyInvest December 3, 2012: 8:45 AM ET
sp500 futures 837

Click chart for more premarket action.

NEW YORK (CNNMoney)

It's a new week but the same story for U.S. markets, as the focus remains squarely on the fiscal cliff negotiations in Washington.

With the number of negotiating days dwindling, things look grim. Instead of hunkering down and talking in private, key players spent Sunday slinging blame on television -- never a good sign.

No major corporate results are due Monday, though reports will be released in the morning on construction spending and manufacturing, as well as on November auto sales. Stock futures were slightly higher Monday.

Among the movers in early trading, shares of computer maker Dell (DELL, Fortune 500) jumped more than 5% after Goldman Sachs (GS, Fortune 500) upgraded its stock from sell to buy.

Shares of Yahoo (YHOO, Fortune 500) edged lower after a civil court in Mexico issued a non-final judgment of $2.7 billion against Yahoo Inc. and Yahoo de Mexico, S.A. in a breach of contract lawsuit related to a yellow pages listing service.

Bank of America (BAC, Fortune 500) shares rose following reports over the weekend that the bank was backing down on instituting new fees this year that would have impacted more than 10 million customers.

Shares of BlackBerry-maker Research in Motion (RIMM) slipped after being downgraded to sell by Canaccord Genuity.

U.S. stocks ended November with a thud, as investors remain sidelined by the political gridlock.

Dividend-payers play Cliff Hangers

Fear & Greed Index

Fresh positive data on China's manufacturing sector gave Asian markets an early boost. But fiscal cliff fears weighed on markets in the region. The Shanghai Composite lost 1.0%, the Hang Seng declined 0.9% and the Nikkei posted a small gain.

Related: There's hidden value in CASSH

European markets were higher, taking some comfort from the positive news out of China, and signs of an easing of the eurozone crisis as Greece announced details of a debt buyback linked to its revised EU-IMF rescue.

The dollar lost ground against the Japanese yen, British pound and euro. To top of page



Join the Conversation
Markets
Sponsored by
Index Last Change % Change
Dow 16,408.54 -16.31 -0.10%
Nasdaq 4,095.52 9.29 0.23%
S&P 500 1,864.85 2.54 0.14%
Treasuries 2.72 0.08 3.19%
Data as of 4:07pm ET
Company Price Change % Change
Bank of America Corp... 16.15 0.00 0.00%
Facebook Inc 58.94 0.00 0.00%
General Electric Co 26.56 0.00 0.00%
Cisco Systems Inc 23.21 0.00 0.00%
Micron Technology In... 23.91 0.00 0.00%
Data as of Apr 17
Overnight Avg Rate Latest Change Last Week
30 yr fixed4.36%4.24%
15 yr fixed3.39%3.26%
5/1 ARM3.36%3.27%
30 yr refi4.34%4.22%
15 yr refi3.38%3.24%
View rates in your area
 
Find personalized rates:
Rate data provided
by Bankrate.com
Market indexes are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer LIBOR Warning: Neither BBA Enterprises Limited, nor the BBA LIBOR Contributor Banks, nor Reuters, can be held liable for any irregularity or inaccuracy of BBA LIBOR. Disclaimer. Morningstar: © 2014 Morningstar, Inc. All Rights Reserved. Disclaimer The Dow Jones IndexesSM are proprietary to and distributed by Dow Jones & Company, Inc. and have been licensed for use. All content of the Dow Jones IndexesSM © 2014 is proprietary to Dow Jones & Company, Inc. Chicago Mercantile Association. The market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. FactSet Research Systems Inc. 2014. All rights reserved. Most stock quote data provided by BATS.