December 31, 2012 at 13:31 PM EST
Stocks Burst Higher On Hopes Of Fiscal Cliff Deal
The stock market continued to hold its breath Monday afternoon as it kept a vigil on the fiscal cliff negotiations in Washington. But the major indexes burst higher around 12:45 ET on news that President Obama would make a statement on the talks. The deadline to avert hundreds of billions in higher taxes and spending cuts was just hours away. The Nasdaq was up 1.2%, the S&P 500 0.7% and the Dow Jones industrial average 0.4%. Small caps also were
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