A Deal May Be Near

The final day of trading is underway. The seemingly unending Fiscal Cliff drama continues. Honestly, I’m a bit dizzy from the constant news. The latest is that both sides are very close to reaching a deal. On the major points, the Democrats have agreed to raise the tax threshold to $450,000. The GOP is holding out for $550,000. The Democrats want to raise dividend taxes to 20% on households making over $250,000.

Despite the positive news on Fiscal Cliff negotiations, the market is up rather modestly. Joe Weisenthal of Business Insider notes that the market is actually doing quite well when compared to some of the worse points of the futures market this weekend. The Senate has just reconvened to discuss the Fiscal Cliff.

The S&P 500 is currently up five points to 1,407.

Posted by on December 31st, 2012 at 11:09 am

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