Stocks: Back to the cliff

Written By limadu on Kamis, 13 Desember 2012 | 04.32

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NEW YORK (CNNMoney)

Speaking to reporters on Wednesday, House Speaker John Boehner and Republican members of Congress gave investors few reasons to be optimistic that lawmakers are close to a deal.

"The longer the White House slow walks this discussion, the closer our economy gets to the fiscal cliff and the more American jobs are placed in jeopardy," Boehner said.

U.S. stock futures hovered just below breakeven early Thursday.

Ahead of the opening bell, reports are due on weekly jobless claims, retail sales and producer prices, while corporate results are due from firms including homebuilder Hovnanian (HOV) and retailer Pier 1 Imports (PIR).

U.S. stocks closed slightly lower Wednesday, shrugging off the Federal Reserve's announcement that its economic stimulus programs would continue.

Fear & Greed Index

In Europe, finance ministers said Thursday they had reached a deal that will bring the continent's banks under a single supervisor. The measure is the latest attempt to alleviate pain caused by the region's debt crisis, and could help standardize the oversight of banking operations.

European markets were lower in morning trading.

Meanwhile, Asian markets ended mixed. Japan's Nikkei closed up 1.7% as nations elections approach. To top of page

First Published: December 13, 2012: 5:09 AM ET


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