US STOCKS SNAPSHOT-Wall St rallies on signs of 'cliff' progress

NEW YORK Mon Dec 31, 2012 5:59pm GMT

Quotes

   

NEW YORK Dec 31 (Reuters) - U.S. stocks extended gains, with the Nasdaq up 1 percent on Monday on news that the majority of Senate Republicans are expected to support a tentative deal on the "fiscal cliff."

The market also got a lift from news that President Barack Obama will make a statement on the fiscal cliff at 1:30 p.m. EST at an event with "middle-class Americans," the White House said.

The Dow Jones industrial average was up 82.99 points, or 0.64 percent, at 13,021.10. The Standard & Poor's 500 Index was up 12.66 points, or 0.90 percent, at 1,415.09. The Nasdaq Composite Index was up 37.11 points, or 1.25 percent, at 2,997.43.

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.