(NEW YORK) — Stocks were up again with investors encouraged that President Obama and Republican leaders may be closer to a deal to avoid the “fiscal cliff” before the deadline. The Dow ended the session at its highest level in two months, according to the Wall Street Journal.
The Dow closed up 116 points Tuesday at 13,351. The Nasdaq gained 44 points to close at 3,055. The S&P climbed 16 points, closing the session at 1,447.
In addition to the ongoing negotiations, House Speaker John Boehner has offered up “Plan B.” It would extend the Bush tax cuts to all Americans but those who earn more than $1 million a year. But the White House says “Plan B” doesn’t go far enough. Under this plan, the White House would get nothing else — no debt ceiling increase, no unemployment extension.
Meanwhile, the National Association of Homebuilder’s latest sentiment index increased to 47, up two points from its November reading. It’s the best reading since April 2006, which was before the housing bubble burst.
Copyright 2012 ABC News Radio
Chris Isidore and Robert Mclean, CNN Newswire
Megan Marsden Christensen, KSL.com