The markets closed down today on Wall Street. In Washington, President Barack Obama held his ground on higher taxes for America’s top earners.
Dow: -0.11%, S&P 500: -0.17%, Nasdaq: -0.18%.
On the commodities front, Oil (NYSE:USO) dropped 0.84 percent to $88.34 per barrel. Precious metals were also down, with Gold (NYSE:GLD) falling 1.33 percent to $1,698.20 per ounce and Silver (NYSE:SLV) falling 2.29 percent to $32.99 per ounce.
Marathon Oil (NYSE:MRO) announced on Tuesday that the company will increase its capital, investment, and exploration budget from its current level of $4.8 billion to $5.2 billion next year and will focus on unconventional North American shale plays. Shares closed down 2.4 percent.
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The Fiscal Cliff and State Governments: Last week, fiscal cliff negotiations between the Republican-controlled House of Representatives and the White House ended once again in a stalemate. Yet President Obama is forging ahead with his plan to meet a partisan delegation of governors on Tuesday to determine the impact deficit reduction measures will have on their state budgets. (Read more.)
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