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Minyanville's T3 Daily Recap: Market Recovers on News House Will Reconvene Sunday
The market looked headed for steep losses Thursday before turning on a dime at about 2:30pm ET on news that the House of Representatives will re-convene Sunday in hopes of pushing through a last-hour fiscal cliff deal. Major indices finished down only around 0.1% after the impressive afternoon bounce. Pessimistic comments earlier in the day from Senate Majority Leader Harry Reid that he didn't think a deal was going to get done before the New Year triggered the heavy selling. With only a few days left before we go over the cliff the market is showing extreme sensitivity to the headlines.  ...
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