Markets Flat As Last Minute Fiscal Cliff Negotiations Continue
The markets traded flat during the midday with the Dow gaining 54 points to 12,992 as lawmakers continued wrestling over details of a fiscal cliff plan before the midnight deadline. Nasdaq climbed 29 points to 2990.
On the upside
Seeking Alpha listed Herbalife (NYSE: HLF) as one of four oversold dividend stocks.
Peru authorized the amendment to add Pacific Rubiales to BPZ Energy's (NYSE: BPZ) Block Z-1 license agreement.
American Airlines pilots approved a memorandum of understanding related to a possible merger with US Airways (NYSE: LCC).
On the downside
Ford (NYSE: F) is poised to sell over 2 million vehicles in 2012 but the stock price fell. TheStreet expects Citigroup (NYSE: C) to outperform its peers in 2013 but the stock price slipped.
Wunderlich Securities initiated coverage of Marvell Technology (Nasdaq: MRVL) on Friday with a Hold rating.
In the broad market, advancing issues outpaced decliners by a margin of more than 2 to 1 on the NYSE and by more than 5 to 3 on Nasdaq. The broader S&P 500 index added 4 points to 1407.
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