Market Insider

Congress 'Cliff' Talk a Hazard for Stocks


Back from holidays for just a day, and Congress has already rattled the stock market, a trend that will continue until the "fiscal cliff" is resolved.

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Wednesday's economic data includes new home sales at 10 a.m. ET and the Fed's beige book on the economy at 2 p.m. "I don't think either of those are going to do anything to the market. It's what's the comment of the day is going to be. Today we had Harry Reid. Tomorrow maybe we have someone else that's more positive. I think that's what the market is waiting on," said Scott Wren, senior equity strategist at Wells Fargo Advisors.