New numbers show that more Americans are pessimistic over whether or not lawmakers can avoid the “fiscal cliff.” And retailers prepare for a flux of customers returning holiday presents. Here's the Wednesday Bloomberg After The Bell Report from the New York Stock Exchange.
American Stock Exchange
2335.21 down 6.75
2990.16 down 22.44
Standard And Poors 500
1419.87 down 6.79
Americans are losing confidence in the government's ability to avoid the “fiscal cliff.” A new Gallup poll taken over the weekend and released Wednesday shows that almost half of respondents feel it's unlikely that lawmakers will manage to come to an agreement to avoid those automatic tax hikes and spending cuts. That caused stocks to close lower. All the major indexes ended the day in the red.
If you plan to exchange something you received this holiday season you're not alone. A new survey by FedEx finds that more than a third of Americans will return gifts this year.
One shopping industry group says that disappointing holiday sales could be better this week, thanks to last-minute purchases before Christmas. Though one retail consultant told Bloomberg that stores sabotaged themselves by not offering better deals leading up to the holiday.
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