Market Review By TraderXP: 

Apple Inc (AAPL) dropped 4.4 percent after UBS AG and Jefferies & Co. cut their share price estimates.
S & P 500 fell 0.3 percent to 1,413.58, snapping a three week gain. Index Dow Jones Industrial Average fell 20.12 points, or 0.2 percent, to 13,135.01 in the week.

Market News

Holiday "standby" as ticks on a rock
Over the last two weeks of December are traditionally quiet for stocks, but traders are accustomed to a bit of free time are close to their mobile devices, thanks to a "financial cliff".
Last-minute talks in Washington on the so-called financial cliff - nearly $ 600 billion in tax increases and spending cuts set to take effect in January, which could lead to a sharp slowdown in growth or even recession - keep some traders and analysts from making the Christmas holidays, because any deal could have a big impact on the markets.
"Many companies say to their desks trade", you can take a day off for Christmas, but you are on standby to come in if anything. " This, of course, is different from previous years, especially this time of year, when things should be slowing down, "said JJ Kinahan, chief derivatives strategist at TD Ameritrade in Chicago.
"Next week will be Capitol Hill managed the market."
With talks between President Barack Obama and House Speaker John Boehner to the obvious impasse, it was more likely that Washington will not come to a deal on January 1.
Gordon Charlop, managing director of Rosenblatt Securities in New York, will also be on standby during the holiday season.
"This," Hey guys, let's just turn and be reasonable "type of situation occurs," said Charlop.
"We hope to have some resolution there, but I think they continue to walk the tightrope that the political ... and not come up with something."
Despite fears that the deadline will pass without a deal, S & P 500 held its ground with a 12.4 percent gain for the year. For this week, though, S & P 500 fell 0.3 percent.
BEWARE OF THE WITCH
This coming Friday will mark the last so-called "four witches" day, when contracts for stock options, futures, stocks, options and stock index stock index futures all expire. This may make trading more volatile.
"We could see some heavy selling as there will be a lot of rebound, redistribution ofassets end of the year," said Kinahan.
RETHINKING THE APPLE
Higher tax rates on capital gains and dividends are part of the automatic tax increases, which will come into force next year if Congress and the White House came up with a solution to prevent a financial cliff. This feature can give investors an incentive to unload certain stocks in certain tax-related sales on December 31.
Some market participants said tax-related selling could be a weak trend in the share price of market leader Apple. Shares of Apple, lost a quarter of its value since it hit a lifetime high of $ 705.07 on September 21.
On Friday, the stock fell 3.8 percent to $ 509.79 after the iPhone 5 have received a cold reception in his debut in China and two analysts cut shipment forecasts. But the stock is still up almost 26 percent for the year.
"If you owned Apple, for a long time, you should think about redistribution, as there will be changes in the rules andother taxes next year, although we did not know what to play by the rules yet," said Kinahan.
But one measure to reduce the anxiety about the financial market on the rocks over a few weeks ago, the defense sector that will be hit hard if the spending cuts take effect. PHLX Defense Sector Index is up nearly 13 percent a year, and is just a few points from the 2012 high. Reuters.com

Global shares fall on U.S. financial worries, oil to China
Global stocks fell on Friday on uneaseover lack of progress in negotiations with the U.S. fiscal and signs of a deepening recession in the eurozone, but the evidence of a strong expansion in the Chinese manufacturing helped lift oil prices.
Huge manufacturing sector in China grew in early December at the fastest pace in 14 months as new orders and employment grew, the survey showed, adding to evidence of a pickup in the Chinese economy.
The dollar fell to almost nine monthhigh against the yen, while the euro rose to its highest level against thegreenback since early May as data on inflation in the U.S. confirmed the Fed's ultra-easy monetary policy.
The talks between President Barack Obama and House Speaker John Boehner on the budget talks to prevent the "financial cliff" were seen on the apparent impasse on Friday. Some $ 600 billion in tax increases and spending cuts that are to begin in January if lawmakers fail to agree, as a threat that could disrupt the U.S. economy back into recession.
Disappointment was installed at the lack of progress, as reflected in the 0.6 per cent drop in S & P 500 on Thursday.
"The uncertainty that the (financial negotiations) created in the main markets are holding hostage in the short term," said Andres Garcia-Amaya, global market strategist at JP Morgan Funds in New York.
Index Dow Jones Industrial Average closed down 35.71 points, or 0.27 percent, to 13,135.01. 500 Index Standard & Poor fell 5.87 points, or 0.41 percent, to 1,413.58. The Nasdaq Composite Index slid 20.83 points, or 0.70 percent, to 2,971.33.
Weighing on the Nasdaq 3.8 percent drop in shares of technology giant Apple, after UBS lowered the price target to $ 700 from $ 780 and the iPhone 5 will debut in China in the cool reception. Shares, which closed at $ 509.79, has fallen in recent months for several reasons after peaking at $ 705 in September, including investors lock gains previously planned capital gains increases for next year.
Benchmark MSCI global index fell by 0.04 percent to 336.67 points.
European shares slipped as investors banked profits after reaching 18-month high earlier in the week, and some said the pan-European index was vulnerable to a deeper correction longer U.S. budget talks remain deadlocked.
FTSEurofirst 300 closed down 0.1 percent 1,133.36.
"The bad news, for the most part, we have seen in the market relative to ignore the good news in the economic data flow, as we are focused on the financial cliff," said Art Hogan, chief executive of Lazard Capital Markets in New York.
China manufacturing data promotion for its key trading partners, including the United States, and to the prospects for global economic growth. China is the second-largest oil consumer.
Brent settled $ 1.24 higher at $ 109.15 a barrel, the first weekly gain this month after two weeks of losses. U.S. crude rose 84 cents to settle at $ 86.73.
But the outlook for the Eurozone economy remains bleak.
Disappointing German manufacturing sector and rising unemployment figures eurozone overshadowed small pickup in the acquisition of the data manager.
German manufacturing purchasing managers index fell to 46.3 in December from 46.8 in the previous month, while remaining well below the threshold of 50 that separates growth from contraction and the lack of consensus Reuters poll forecast for a rise to 47.2.
"Overall, the picture for the (euro zone) economy has not changed much since the data today," said Annalisa area economist Newedge Strategy in London. "GDP will continue to decline in Q4-12, and there are no signs of improvement during the first part of next year."
The euro rose 0.64 percent to $ 1.3160, while the dollar slipped 0.15 percent to 83.48 yen.
Yen earlier weakened after Japanese media reported the conservative Liberal Democratic Party is set for landslide victory in elections Sunday, cementing speculation that the party leader, Shinzo Abe, will be in a strong position to achieve a softening of monetary bold.
"Abe is making a pretty strong comments about inflation targeting, and if we look at the Japanese economy needs a lower currency without a doubt," said Maurice Pomery, managing director of strategic consultants Alpha.
"This will put pressure on the Bank of Japan. This began the downward movement of the yen, which has come a long way."
10-year U.S. Treasury note rose 8/32 in price to yield 1.7041 percent.
The U.S. Labor Department said its consumer price index fell 0.3 percent last month, as a sharp decline in gasoline prices offset increases in other areas. It was also the biggest drop since May, and then 0.1 per cent increase in October.
"The essence of this report is only the fact that the inflationary background is very soft, providing the Fed with a significant break to save money adaptive policy," said Millan Mulraine, senior economist at TD Securities in New York. Reuters.com