Stocks Again Try to Rally as Cliff Talks Advance

December 28, 2012 12:36 PM EST
Stocks again staged a intra-day recovery as positive movement in fiscal cliff talks continue.

President Obama is reportedly offering a scaled-back budget package to Republicans and Democrats are warming to a income cap of $400,000 versus $250,000, before tax rates increase.

After trading down as much as 12 points earlier, the S&P 500 is currently down 5.6 points. The Dow is down 56 and the Nasdaq is down 6, both also well off the lows.

Yesterday, the House set up a special Sunday session and there is hope that they will have something to vote on.

Despite the positive reading of the tea leaves, many remain skeptical that a deal can be reached in time.

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