Stock futures are up slightly, following modest gains in Europe, as the market awaits a resolution on the looming fiscal cliff.
The S&P 500 is higher by about one-tenth of a percent. It’s been climbing for the last two weeks after bouncing from an early-November pullback and is now in the middle of its trading range for the second half of the year.
While economic fundamentals have been positive, with improving employment and housing, investors are now worried about the danger of higher tax rates and less government spending on Jan. 1. So far, there have been few signs of a deal in Washington.
Sentiment was also positive overseas, with European and Asian indexes advancing by more than half a percent. Germany’s lower house voted strongly in favor of an aid package for Greece, maintaining the momentum toward resolution of the Mediterranean country’s debt crisis.
— Option Monster