Stocks pause as fiscal cliff boost fades

Posted by Forexsq 502 days ago (http://money.cnn.com)
img Could the fiscal cliff talks be helping stocks?

That's a stretch, of course. Disaster may still loom. Markets have reacted well this week as negotiations in Washington picked up speed.

Take Thursday -- Speaker John Boehner said "no substantive progress" had been made in talks. Yet U.S. markets still ended in positive territory.

Early Friday morning, U.S. stock futures were flat to higher. Friday could be a relatively quiet trading day, as investors stay tuned to the latest developments in Washington.

America's Debt Challenge

Before the bell Friday, reports are due on personal income and spending for October. Chicago's Purchasing Manager Index, a barometer of manufacturing activity in the area, is due shortly after trade begins.

Few stocks made big moves in premarket trading Friday, though shares of St. Jude Medical (STJ, Fortune 500) were 2.4% higher one day after the hospital's board authorized a $1 billion stock buyback.

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