December 31, 2012 at 16:27 PM EST
Stocks, Volume Surge On Reports Fiscal Deal Is Near
Stocks reversed higher from modest dips Monday as reports flourished to the effect that a long-elusive fiscal deal in Washington finally is within reach. The Nasdaq, which had sunk as much as 0.2% in the morning, shot up 2%. The S&P 500 moved from a 0.3% loss to a 1.7% surge. The Dow Jones industrial average reversed higher to a 1.3% gain after sinking 0.4% in the morning. Volume leapt on the Nasdaq and on the NYSE, according to preliminary data.
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