The S&P began pulling back from the highs yesterday for two taper related reasons. First the deal in Washington opens the door for a Fed taper next week. Second, the S&P gave a push toward highs early into Tuesday's session and set up a technical failure.
A U.S. budget accord on track to win passage in Congress doesn’t change the view of Moody’s Investors Service on America’s top Aaa rating because it leaves medium-term deficits largely unaltered, according to Senior Vice President Steven Hess.
The stock market could use a healthy correction soon, before prices start rising at an unsustainable pace.
The yen strengthened from almost a six-month low against the dollar as a decline in global equities spurred demand for the currency as a haven amid speculation its recent drop has been too rapid.