US STOCKS SNAPSHOT - Wall St extends gains on McConnell comments

NEW YORK Mon Dec 31, 2012 8:06pm GMT

NEW YORK Dec 31 (Reuters) - U.S. stocks extended gains, with the Nasdaq rising 2 percent and the Dow climbing more than 1 percent in the afternoon, after comments from President Barack Obama and Senate Republican leader Mitch McConnell indicated a "fiscal cliff" deal was close.

The Dow Jones industrial average gained 152.05 points, or 1.18 percent, to 13,090.16. The Standard & Poor's 500 Index rose 21.78 points, or 1.55 percent, to 1,424.21. The Nasdaq Composite Index climbed 60.04 points, or 2.03 percent, to 3,020.35.

Photo

After wave of QE, onus shifts to leaders to boost economy

DAVOS, Switzerland - Central banks have done their best to rescue the world economy by printing money and politicians must now act fast to enact structural reforms and pro-investment policies to boost growth, central bankers said on Saturday.