U.S. stocks fall modestly as deficit mulled

U.S. stocks fall modestly as deficit mulled
NEW YORK (MarketWatch) — U.S. stocks retreated Thursday following a two-session leap as Wall Street considered the recently reached budget deal and further moves needed to curb the nation’s red ink.“With President Obama having signed the 2012 Taxpayer Relief Act, investors and the country now look forward to the next battle in Washington that will be coming up, extension of the [$16.4 trillion] federal debt ceiling,” Fred Dickson, chief investment strategist at Davidson Companies wrote in morning commentary.

“We expect to see some federal government spending cuts, but not major entitlement reform, during the upcoming debate in Washington,” he added. http://www.marketwatch.com/story/us-stocks-fa...lcountdown