Stocks Again Try to Rally as Cliff Talks Advance
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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.
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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