Market Review By TraderXP: 

Oil fell to its lowest level in three weeks in New York after the European Central Bank lowered the growth forecast for the euro area and, as U.S. lawmakers tried to reach an agreement on the budget plan.

"The decline in the forecast ECB Draghi growth and statements that economic weakness may be extended added concern about the situation in Europe," said John Kilduff, a partner at Again Capital LLC, New York hedge fund that focuses on energy. "Taking care of the financial cliff and that next year will result in the demand for energy has been at the forefront of investors' minds this week."

Market News

Revenue from Apple lift technology in a quiet day before jobs data
Stocks closed modestly higher on Thursday, a day ahead of the key monthly jobs report, and the rebound in stocks Applehelped stock enhancement technology.
Traders did not want to put much day before the employment report Friday November. Just 5.62 billion shares changed hands on U.S. exchanges, hesitates 6.48 billion daily average this year.
Investors will also watch for "financial cliff" talks in Washington to see if lawmakers can reach an agreement to avoid a number of spending cuts and tax increases, starting in January.
"Right now we're just drifting, waiting to learn about rocks and jobs," said Donald Selkin, chief market strategist at National Securities in New York. "Only a stabilizing factor is that Apple, above, once again, that is lending some support to the broader market."
Apple, rose 1.6 percent to $ 547.24, changing the losses at the open. The stock is coming off his biggestone day fall in four years on Wednesday, which comes amid fears of higher taxes on capital gains in 2013 and tablets of the market share.
S & P technology index of the best performance of S & P 500 in 10 major sectors, receiving 0.8 percent. Semiconductor rallied the day after Broadcom forecast fourth-quarter revenue at the high end of its target range. Broadcom shares rose 3.2 percent to $ 33.36, and the PHLX semiconductor index rose 1.1 percent.
Index Dow Jones Industrial Average rose 39.55 points, or 0.30 percent, to 13,074.04 at the close. 500 Index Standard & Poor gained 4.66 points, or 0.33 percent, to 1,413.94. The Nasdaq Composite Index gained 15.57 points, or 0.52 percent, to close at 2,989.27.
Monthly salary numbers to be bereleased the Ministry of Labour before the market opens on Friday, is expected to show a sharp slowdown in job growth, although this is largely due to the impact SuperStorm Sandy that devastated the north-eastern United States in lateOctober and early November . The unemployment rate is seen holding steady at 7.9 percent.
Wider steps have been limited, however, as traders focused on the "financial cliff" debate. About three weeks left before the higher tax rates will take effect that economists worrywould weaken economic growth. Lawmakers are trying to come up with a deal to avoid some of the negative effects on the economy at the same time reducing the U.S. budget deficit.
While Republican leaders in the U.S. House of Representatives insist that raising the tax rate on the rich is not negotiable, some GOP lawmakers are now considering it as a necessary, to avoid a financial cliff.
Without action by Congress, the tax cuts on capital gains and dividends will expire at the end of 2012. This gave investors a reason to sell certain stocks, such as Apple, which did very well in recent years.
Volatility Index CBOE, known as the VIX, rose by 0.7 per cent, "a reflection of the concerns of people, report, and skepticism from the cliff," said Selkin.
S & P index of consumer discretionary shares gained 0.6 percent raise in advance Starbucks Corp shares up 5.7 percent to $ 53.70 after Baird upgraded shares "outperform."
H & R Block rose 5.1 percent to $ 18.26 after the company reported a quarterly loss that was narrower than expected.
Sirius XM Radio shares rose 0.7 percent to $ 2.79 after its board approved a $ 2 billion stock repurchase and said, aspecial dividend, which gave great benefits to its largest shareholder, LibertyMedia. Liberty shares rose 2.7 percent to $ 109.24.
Garmin shares jumped 5.7 percent to $ 41.99 after Standard & Poor said it would add a navigation device manufacturer for S & P 500 index. Garmin will replace RR Donnelley and sons after the close of trading on December 11.
Just over 50 percent of the shares traded on the New York Stock Exchange closed with an increase, and the number of promotion and inventory reduction was even on the Nasdaq. Reuters.com

Currencies

Downbeat ECB knocks the wind out of the euro bulls
The euro languished at one-week lows against the dollar on Friday after suffering a serious blow after the European Central Bank has painted a gloomy outlook for the euro area and discussed the decline in interest rates.
Political turbulence in Italy as Italian bonds fell and added to the losses in theeuro after Silvio Berlusconi's People of Freedom party withdrew its support for the government of technocrat Prime Minister Mario Monti on Thursday.
"The main impetus for the euro sharply negative reaction was a mention of a" broad "discussion on the reduction in rates, while Mr Draghi also said the ECB was" operationally ready "for negative rates," said BNP Paribas strategist Vassili Serebriakov.
ECB President Mario Draghi said politicians talk about reducing their core 0.75 percent tariff policies before choosing to leave it on hold, even if he cut growth forecasts. They also touched on the idea of ​​reducing its deposit rates into negative territory.
The single currency has stabilized at around $ 1.2970 in Asia on Friday, after the fell nearly 1 percent on Thursday, the biggest one-day loss in a month and back from seven-week peak of $ 1.3127 set in the middle of the week.
Immediate support is seen around $ 1.2949, representing 38.2 per cent of the level of recovery of its November 13-December 5 meeting.
Against the yen, the euro was 107.00 yen, the yen following the full seven-month high 107.96 yen hit on Wednesday.
Slipped into the euro helped push the dollar index to 80.236, rebounding from six-week trough pipes midweek 79.568.
Sale slept in Asia as traders look to the U.S. non-farm payrolls report due 1330 GMT. Analysts polled by Reuters, expect a sharp slowdown in the growth of employment in connection with the violation caused superstorm Sandy.
Wages rose just 93,000 last month after advancing 171,000 in October, according to the Reuters poll of economists. The unemployment rate is seen holding steady at 7.9 percent.
Any weakness closely watched report also reinforce expectations that the Federal Reserve will announce a new round of Treasury bond purchases to replace its expiring program Operation Twist at the meeting next week.
Such action could keep investors become too enthusiastic about the dollar.
The dollar held almost flat against the yen at 82.50 yen, stuck in a triangle holding pattern after being struck 7-1/2-month high 82.84 yen a month on expectations of more aggressive easing by the Bank of Japan.
Selling, hedging for option barrier at 83 yen capping dollar now, but some traders see a chance to rest there after the U.S. jobs data.
"Even if the payroll data is weak, if support for the dollar below 82 yen is confirmed, the dollar may test higher above 84 yen next week this year," said Hiroshi Maeba, head of currency trading at UBS in Tokyo, Japan.
Meanwhile, the Australian Dollar has shown no signs of retreat after a surprisingly firm employment report on Thursday, the market demands to trim interest rates by chance the Reserve Bank of Australia's next meeting in February.
Aussie reached $ 1.0515 on Thursday, the high not seen since September to profit taking took it down a notch to $ 1.0478. Its stability is remarkable given this week's interest rate cuts and a lot of data showing less rosy outlook for the local economy.
This is the last of $ 1.0480, almost flat from late U.S. levels. Reuters.com