Stocks Surge as Fiscal Cliff Deal at Hand
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Stocks surged mid-day Monday as Democrats and Republicans are said to be very close to a deal on the fiscal cliff.
In a 1:45PM ET statement, President Obama said an agreement is "in sight" but not yet done.
The two sides are said to have agreed in principal on a $450,000 threshold on incomes before tax increases go into effect. An extension of unemployment benefits is also said to be part of the deal. One remaining sticking point is the sequester.
The Dow is up 63, the S&P 500 is up 11 and the Nasdaq is up 34.
In a 1:45PM ET statement, President Obama said an agreement is "in sight" but not yet done.
The two sides are said to have agreed in principal on a $450,000 threshold on incomes before tax increases go into effect. An extension of unemployment benefits is also said to be part of the deal. One remaining sticking point is the sequester.
The Dow is up 63, the S&P 500 is up 11 and the Nasdaq is up 34.
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