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US TSYS/STOCKS: LBBW's Karl Haeling said that US Stocks "rallied early on
speculation that the defeat of the Republican's candidate for Senator in Alabama
to a Democrat in a special election Tuesday would intensify urgency in the GOP
to reach agreement on tax code changes before Christmas. The Alabama election
means that the Republican majority in the Senate will shrink to 51-49 in January
from 52-48 through the end of December."
- He adds that "this speculation proved correct as Congressional Republicans
announced an agreement in principle on tax changes during the afternoon.
However, equities actually lost some of their gains afterward."
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