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The S&P 500 surged 0.1% to 1,418.07. The gauge is 0.7% down since Barack Obama was re-elected in the presidential election, as the President is trying to agree with Republican lawmakers on the next year's budget to avert the so called ‘fiscal cliff'.
All but one sector within the index edged higher with Basic Materials gaining the most by 0.94%, followed by Financials and Consumer goods that advanced 0.70% and 0.69%, respectively. The only sector that lost was Technology, down -0.70%. The biggest gainers were Avon Products gaining 5.33%, Mcgraw-Hill Companies surging 4.16% and Adt Corporation Common Stock W adding 3.81%. The company that lost the most was Big Lots by losing 5.72% and Best Buy Co. that tumbled 2.99%. Apple inched lower 2.56%, after it introduced new margin rules for the investors saying how many Apple shares can be owned by a firm. One more reason could be not issuing a special dividend was done by other companies, such as Oracle Corporation.