U.S. equities ride a roller coaster off of fiscal cliff headlines. Senator Reid tanked the markets yesterday. Global markets took that cue and headed lower as worries over the fiscal cliff mounted.
The DOW was off nearly 100 points in the first hour of trade. Then John Boehner came out and said that he was optimistic a deal can be reached. This coinincided with indices touching down on the 200 moving average. Markets then reversed and road the roller coaster up a 100 DOW points.
Currently the DOW is up 79 points.
Gold and oil are getting slammed.
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