Markets Flat As Last Minute Fiscal Cliff Negotiations Continue
December 31, 2012 at 04:39 AM EST
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 upsideSeeking 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 downsideFord (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.
