(Reuters) - The U.S. Congress comes back on Monday without a deal to avert the "fiscal cliff" and only a few hours of actual legislative time scheduled in which to act if an agreement materializes.
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The three US indexes looks the same now after more than 10 hours CFD trading.
The charts on the second blog below are unchanged more or less. In Europe this morning only a few CFD markets are open with very thin trading.
NYSE will start trading as usual from 15:30. Between 17:00 and 18:00 the congress will reconvene. Media have different versions of what will happen. As far as I understand the White house is preparing for the worst case scenario by making plans for Jan 4 to start a changing the law process with the new congress which will start its first session Jan 3 with more democrats in both the House and the Senate but the majority will be the same. The interesting thing just now is what the traders will do today in the U.S. One paper said that if the markets dive that could influence congress to do something the last hours of the month, because that has happened before. Others say the market will be quiet because it is New Years Eve.
___________________________________________
The three US indexes looks the same now after more than 10 hours CFD trading.
The charts on the second blog below are unchanged more or less. In Europe this morning only a few CFD markets are open with very thin trading.
NYSE will start trading as usual from 15:30. Between 17:00 and 18:00 the congress will reconvene. Media have different versions of what will happen. As far as I understand the White house is preparing for the worst case scenario by making plans for Jan 4 to start a changing the law process with the new congress which will start its first session Jan 3 with more democrats in both the House and the Senate but the majority will be the same. The interesting thing just now is what the traders will do today in the U.S. One paper said that if the markets dive that could influence congress to do something the last hours of the month, because that has happened before. Others say the market will be quiet because it is New Years Eve.
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