December 31, 2012 at 15:00 PM EST
Stocks Ramp Up As Deal Nears; Nasdaq Retakes Key Levels
Stocks improved and were near session highs in late trading Monday. Earlier, they eased as President Obama said that a deal to avert the fiscal cliff was in "in sight," but also noted that there's still more work to be done before the midnight deadline. Lawmakers still have roughly 12 hours to iron out a deal before tax increase and government spending cuts take effect. The Nasdaq bolted 1.4%, putting it back above its 50-day and 200-day moving
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