Sunday Night Futures

As expected – no progress on the “fiscal cliff”.   From the WaPo: Senate negotiators search for deal to avoid the ‘fiscal cliff’

Still no deal.

There were signs of renewed effort in the talks to resolve the “fiscal cliff” crisis late Sunday afternoon. For one thing, direct talks had begun between Senate Minority Leader Mitch McConnell (R-Ky.) and Vice President Biden. Republicans exiting a mid-afternoon caucus meeting said that McConnell had excused himself to take a call from the vice president.

Those two Washington veterans have become the capital’s unofficial closers, hammering out the agreement that resolved a fight over tax cuts in late 2010, and the debt-ceiling crisis in August 2011.

But their task could could prove far more difficult this time around.

The markets will close early on Monday – Happy New Year to all!

Monday economic release:
• At 10:30 AM, the Dallas Fed Manufacturing Survey for December will be released. This is the last of the regional surveys for December. The consensus is an increase to 1.0 from -2.8 in November (above zero is expansion).

Weekend:
Summary for Week Ending Dec 28th
Schedule for Week of Dec 30th

The Asian markets are mostly red tonight; the Shanghai Composite index is up, and the Hang Seng down.

From CNBC: Pre-Market Data and Bloomberg futures: the S&P futures are down 8 and DOW futures are down 68.

Oil prices have moved up a recently withWTI futures at $90.65 per barrel and Brent at $110.41 per barrel. Gasoline prices have also increased a little recently.

Related posts

Idiocy in Spain: Bank Proposal to Build More Houses, Issue More Mortgages, Despite Massive Inventory and Enormous Drop in Sales

Mish Global Economic Trend Analysis

Sky City: China to Build World’s Tallest Building, 220 Stories, in 90 Days

Mish Global Economic Trend Analysis

It’s No Wonder People Don’t Understand the “Public” Debt

Angry Bear

EU Budget Laugh of the Day “No One Is Discussing Quality”

Mish Global Economic Trend Analysis

Via Barry Ritholtz’s  Big Picture comes this PBS six minute …

Angry Bear

Politics and Specific Policies

Angry Bear