Veterans Day: Market Happenings For Monday, Nvovember 12, 2012

Premarket, futures are up. Gainers this morning include TIE (+43.22%), DHI, X, LM and ATI while losers include SCHW (-5.44%), JCP, TRIP, PCS and GWW.

The Market

Yesterday was Veterans day and today is the observed Veterans Day. I would like to thank all veterans for protecting and preserving our great country. Thank you.

This week begins the fiscal cliff era. We will be talking about this until December 31 when our government will decide for us whether to address it or let us go over the cliff. Doesn’t sound very democratic does it?

President Obama said Friday that he will meet with Republican and Democratic leaders this week to discuss the situation.

During the weekend, Greece’s parliament approved the nation’s 2013 budget. The vote was an essential move toward unfreezing international bailout funds, even though disagreement among its creditors could push back the timetable for when that aid will resume.

Finance ministers from the 17 eurozone countries will meet in Brussels today to discuss Greece’s economic reforms.

European stocks were mixed in mid-day trading and Asian markets ended mixed.

The national average price of gasoline is down two-tenths of a cent to $3.437 per gallon.

Earnings Reports

Earnings reports (estimates): DHI-DR Horton ($0.29), HOLX-Hologic (0.36), JEC-Jacobs Engineering (0.79), TROX-Tronox (0.41), NTI-Northern Tier (1.64), SFUN-Soufun (0.46).

Financial Calendar

n/a Veterans Day (observed). Government offices closed. Forex and interest rate floor trading closed but Globex is open regular hours. Stock and commodity markets trading floor and Globex open regular hours.

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