Business

Stocks gain on budget talk optimism, Fed stimulus

By Steve Rothwell
Published December 11, 2012 10:18pm ET
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Stocks gain on budget talk optimism, Fed stimulus
Traders work on the floor of the New York Stock Exchange Tuesday, Dec. 11, 2012. Stocks opened higher Tuesday ahead of a meeting of the Federal Reserve and possible additional steps to bolster the U.S. economy. (AP Photo/Richard Drew) | Richard Drew

NEW YORK (AP) — Stocks rose for a fifth straight day Tuesday as investors latched on to reports of progress in budget talks in Washington. The Standard & Poor’s 500 index had its biggest gain this month.

The Dow Jones industrial average gained 78.56 points to 13,248.44. It was up as much as 137 points earlier in the day. The S&P 500 finished up 9.29 points at 1,427.84. The Nasdaq composite ended up 35.34 points at 3,022.30.

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