Australian Stock Market Report – Midday 12/13/2012

By Juliette Saly, CommSec Market Analyst414,

Shutterstock photo

(12pm AEDT)

After the recent rally which has seen the ASX 200 hit 17 month highs and the All Ordinaries Index (XAO) reach fresh 2012 highs, local stocks are trading flat today.

A new stimulus plan from the US Federal Reserve announced overnight briefly lifted the broader S&P 500 to a seven week high however Wall Street ended up closing flat as profit takers moved in and after Fed Chairman Ben Bernanke said he hoped markets wouldn't have to tank to get a fiscal cliff deal.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

This article appears in: Investing Commodities
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