With the stronger dollar, U.S. stocks ended mixed on Wednesday midday. Obama's tax cut compromise bolstering hopes that U.S. economic growth, but its potential side effects of increasing the deficit caused bond prices fell sharply.
At 11:40 on December 8 EDT, the Dow Jones Industrial Average fell 15.21 points to 11,343.95 points, down 0.13%; the Nasdaq composite index rose 4.16 points to 2,602.65 points, or 0.16%; the S & P 500 Index fell 0.40 points to 1,223.35 points, down 0.03%.
Dow 30 industrial stocks among the 16 stocks rose, including Home Depot (HD) rose 0.9% after the company raised the second time in two months since its profit forecast.
Institutional investors, chief investment strategist at Davidson Companies Fred - Dixon (Fred Dickson) said, "Investors will continue to explore the significance of Obama tax cut compromise."
Dixon believes that the compromise tax cut capital investment projects allow companies to immediately tax deductible, so it is for the benefit of industrial equipment manufacturers, and can contribute directly to economic growth. The motion of tax cuts has not yet formed a special bill.
Investors believe that Obama's tax cut compromise help to stimulate economic growth, but also make the budget deficit further. This sentiment led to concern U.S. Treasury prices fell sharply on Wednesday, 10-year U.S. Treasury yields rose to its highest point since June. 10-year Treasury yield is used to determine the base cost of consumer loans.
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