Not to be left out of the fiscal cliff party, oil prices have furthered their recent gains, trading above $93.00 per barrel. The fiscal cliff deal is mostly stimulative, with the extension of tax cuts without spending cuts. The lapse on the payroll tax holiday will hurt a little, but not enough to weigh down the overall economy. Weekly jobless claims continue to improve and a sub-350k reading is possible tomorrow with a 170k new jobs print on Friday.
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