The Dow closed down -89.24 (-0.69%) at 12,878.24.
There were 6 Dow stocks up today and included BA (+0.30%), MMM, INTC, DD, UTX and KO.
Losing Dow stocks were led by HPQ (-2.98%), AXP, BAC, UNH, CVX, XOM, MSFT and T.
So, everything now is about the fiscal cliff. Personally, I think all the politicians are out to line their pockets while they are in office and only care about themselves and their party. None of them are looking out for the people. If they were, they would find common ground on the things that matter most to the people. The things I want are pretty simple in nature. I want a secure country, good job, medical care, the basic American freedoms, smaller government, reasonable taxes and an ability to retire comfortably on the funds I contributed to the system. Yes I realize that those things are not as simple as they sound. But they are not outlandish and should be attainable. After all, I remember a time when taxes were not a concern to me and America was fiscally sound.
I’m 59 years old and can tell you that life was easier and more profitable say 30 years ago when I worked in an aluminum smelter near Goldendale Washington. Today, I doubt if there are any aluminum smelters left operating in the United States.
The dollar was up against the euro and Japanese yen but was flat against the British pound.
Oil for January delivery lost 56 cents to $87.18 a barrel.
Gold futures for December delivery dropped $7.30 to $1,742.30 an ounce.
The price on the benchmark 10-year U.S. Treasury was up, pushing the yield down to 1.64% from 1.66%.
And life goes on everywhere.