3 Events That Will Drive Stocks

Stocks are little-changed this morning, as the Dow Jones Industrial Average (DJINDICES: ^DJI  ) and the broader S&P 500 (SNPINDEX: ^GSPC  ) are up 0.2% and 0.02%, respectively, as of 10:10 a.m. EST.

Fiscal-cliff watch
After the White House and congressional Republican leaders had seemingly reached a public stalemate, things may be inching forward behind the scenes: News has surfaced that President Obama met with Republican House Speaker John Boehner over the weekend to discuss the fiscal cliff. With some prominent Republicans publicly breaking ranks by indicating that they're willing to entertain a tax rate increase on top earners, the odds that the Republican leadership will ultimately concede this point are increasing.

Fed watch
If you can't rely on politicians, at least there's the Chairman of the Board: Ben Bernanke (no, not Frank Sinatra). The Federal Open Market Committee is convening for its regularly scheduled two-day rate-setting meeting beginning tomorrow. Fed watchers think the FOMC could announce that it will replace Operation Twist with another bond-buying program as the former winds down.

Spaghetti Western
Will Silvio Berlusconi be the Man With No Name who returns to take control of the Italian Republic that deposed him? Of course, in High Plains Drifter, Clint Eastwood's character punishes the citizens who betrayed him when he was their sheriff. But one could make the argument that in Berlusconi's case, it was he who betrayed the trust of his citizens from the outset. Either way, the announcement from caretaker Prime Minister Mario Monti that he would step down early, which could usher in Italian elections in February, is unsettling to investors, who consider Monti a source of stability and sure governance.

As 2012 draws to a close, there is still time to check out "The One Energy Stock You Must Own Before 2014." Click here to receive our free report today.


Read/Post Comments (0) | Recommend This Article (5)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

DocumentId: 2146492, ~/Articles/ArticleHandler.aspx, 4/23/2014 12:43:48 PM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...


Advertisement