Stocks: Eyes on the fiscal cliff

Written By limadu on Rabu, 28 November 2012 | 17.42

Click on chart for more premarket data.

NEW YORK (CNNMoney) -- The fiscal cliff remains in focus Wednesday, as investors await further news on the negotiations. U.S. stock futures were lower in early trading.

Senate Majority Leader Harry Reid said late Tuesday that members of Congress have made little progress in hammering out the terms necessary to avoid triggering a slew of year-end tax increases and spending cuts. U.S. stocks ended the day lower, as Reid's comment sparked a late-day sell-off.

On tap for Wednesday, investors will get a look at the health of the housing market at 10 a.m. ET, when the Census Bureau releases October data on new home sales. At 2 p.m., the Federal Reserve will release the October edition of its Beige Book, a survey of regional economies.

Fear & Greed Index

In corporate news, firms including China's Yingli Green Energy (YGE) and U.S. clothing retailer American Eagle (AEO) will report quarterly results before the bell.

Meanwhile, shares of Green Mountain Coffee Roasters (GMCR) soared more than 20% in after-hours trading Tuesday, after the K-cup maker issued a better-than-expected outlook for the upcoming fiscal year.

European markets slid in morning trading, while Asian markets ended lower on Wednesday.

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First Published: November 28, 2012: 5:10 AM ET


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