Credit: Shutterstock photoCrude oil and gold prices are at the mercy of US lawmakers as all eyes remain on Washington, DC in hopes of a deal to avoid the fast-approaching "fiscal cliff".
Talking Points
- Crude Oil, Copper to Rise with Stocks if "Fiscal Cliff" Deal is Achieved
- Gold and Silver to Reflect Dollar's Response to US Budget Negotiations
The spotlight remains on Washington, DC as financial markets return from the Christmas holiday, where US policymakers have a mere five days left to deliver a deal avoiding the so-called "fiscal cliff" . The markets' baseline scenario appears to call for a last-minute compromise that avoids an immediate fiscal shock but falls short of setting US public finances on a sustainable long-term path. The emergence of a loose framework for negotiating a "grand bargain" in the future also seems to be baked in.
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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.
