U.S stocks closed mixed on Monday as investors remained cautious due to further concerns about reaching a deal on the fiscal cliff. According to NextCandle.com's stock forecast, U.S indices should gain more ground on Tuesday: the Dow Jones Industrial Average is expected to hit higher than 13008.45, with a recommended stop at 12786.13; the S&P 500 is also expected to hit higher than 1409.15, with a recommended stop at 1386.39, and finally Nasdaq is also expected to hit higher than 2976.93, with a recommended stop at 2912.42.
Stocks closed Monday’s session with mixed results
U.S. stocks ended mixed Monday as investors remained focused both on the opening of the holiday shopping season, and on economic negotiations in Washington and Europe that are on the agenda.
Now that Congress is back in session, a deal between congressional leaders and the White House will have to be reached before the end of the year to prevent the onset of tax increases and spending cuts generated by the upcoming fiscal cliff. After the first meeting between the White House and lawmakers after the elections, congressmen seemed optimistic and confident that they would reach consensus before the New Year.
However, analysts remain skeptical and doubt that a quick agreement can be reached so easily. If no final decision has been made by the end of the day's meeting, attention will shift to the next regular Eurogroup meeting due on December 3rd.
Global stocks ended Monday's session mixed
On Monday, U.S. stocks closed the day’s session mixed: the Dow shed 0.33%, from 13009.68 to 12967.37; the S&P 500 also retreated 0.20% from 1409.15 to 1406.29, while Nasdaq rose 0.33% from 2,966.85 to 2976.78.
European stocks finished in the red on Monday: Germany's DAX shed 0.23%, Britain's FTSE 100 slipped 0.56%, and finally France's CAC 40 fell 0.79%. Across the Pacific, Asian stocks finished mixed on Monday: the Shanghai Composite lost 0.49%, Hong Kong's Hang Seng shed 0.24%, while Japan's Nikkei gained 0.24.