MARKET ROUNDUP (Source Bloomberg)

U.S. Stocks Snap Two-Day Slump Amid Optimism Over Budget; amid optimism lawmakers will reach a budget agreement before the end of the year and after economic data topped estimates. The S&P 500 rose 0.2 percent to 1,409.28 at 4 p.m. New York time. The Dow Jones Industrial Average added 82.71 points, or 0.6 percent, to 13,034.49. The Nasdaq Composite Index declined 0.8 percent to 2,973.70. More than 7 billion shares changed hands on U.S. exchanges, or 12 percent above the three month average, according to data compiled by Bloomberg. Equities rose as a few dozen Republicans joined a bipartisan call to break the impasse between President Barack Obama and House Speaker John Boehner over taxes for the highest- earning
Americans, signing a letter calling for exploration of 'all options. (COST)' Obama told a business group that 'nobody wants to get this done more than me' and lawmakers probably could solve the budget debate in about a week if Republicans move.

European Stocks Rise to 18-Month High on China Optimism; as China signaled wider policy support for economic recovery, outweighing a report that showed euro-area manufacturing and services output shrank for a 10th month. France's CAC 40 and Germany's DAX each added 0.3 percent. U.K.'s FTSE 100 (UKX) rose 0.4 percent. China will keep macroeconomic policies stable, making adjustments as needed to deal with difficulties, the Communist Party's Politburo said in its first assessment of the economy under new leader Xi Jinping.

Oil, gasoline fall as supplies rise, copper steady (Reuters)- Oil prices fell again on Wednesday as a sluggish global economy has traders worried about demand, but most other commodities had slight gains as investors awaited progress on U.S. budget talks or other news that could bring vigor back to the markets. Oil prices closed down about 1 percent for a third day of losses after data
showed larger-than-expected increases last week in stockpiles of refined products in the United States, the top energy consuming nation. Gasoline prices fell more than crude oil prices because of a spike in petroleum inventories.

Source:Jupiter Securities Research, 06 December 2012