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Transcripts For CNBC Closing Bell With Maria Bartiromo 20121221

Bell. The market down today. Washington is not even close to reaching a deal to avoid the fiscal cliff. We had a triple digit decline today. Here is how were finishing the day on wall street. At the lows, dow was down 189 points. By the close, we came a fair amount of the way back from that sharp decline in the morning hours. Volume very heavy today. Thats how he saw a lot of shifting in the volume for the day. 1. 2 billion shares here. Nasdaq gave up that 29 points at the close and the s p 500 down 13. 25 points. Five trading days left until the fiscal cliff deadline. Seven days until congress is back in washington. Raymond james says hes expecting the santa claus rally. Jeff is with me now also dean from barclays, Peter Anderson and our own rick santelli. Jeff, how can this market rally when theres still so much uncertainty out there . I am surprised the market held up as well as it did today, maria. It had every reason to be down four or 500 points. Historically, the week after chri

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