Stocks Rally After Conciliatory Remarks on Fiscal Cliff
Tweet
Share
E-mail
Stocks rallied Friday after Congressional leaders made conciliatory remarks following a meeting with President Obama on the fiscal cliff.
House Speaker John Boehner (R) said he outlined a "framework," and thinks a deal is possible. He said he would accept revenue increases (i.e. tax hikes) as long as they come with spending cuts.
House Democratic leader Nancy Pelosi (D) said she is confident that a solution may be in sight.
Senate GOP leader Mitch McConnell (R) said revenue can be part of the solution.
Meanwhile, Harry Reid (D) said they won't wait until the last minute to strike a deal.
After trading down over 70 points ahead of the press conference, the Dow is now up 30 points.
House Speaker John Boehner (R) said he outlined a "framework," and thinks a deal is possible. He said he would accept revenue increases (i.e. tax hikes) as long as they come with spending cuts.
House Democratic leader Nancy Pelosi (D) said she is confident that a solution may be in sight.
Senate GOP leader Mitch McConnell (R) said revenue can be part of the solution.
Meanwhile, Harry Reid (D) said they won't wait until the last minute to strike a deal.
After trading down over 70 points ahead of the press conference, the Dow is now up 30 points.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Wall Street closes higher as investors digest earnings, megacap outlook
- Blackstone to buy restaurant chain Tropical Smoothie
- Boeing, Spirit agree $425 million deal to address supplier's issues
Create E-mail Alert Related Categories
General News, Market CheckRelated Entities
Barack ObamaSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
