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Optimism on ‘cliff’ buoys stocks

Posted: December 6, 2012 at 3:50 a.m.

Stocks closed higher Wednesday, their first gain of the week, as bank shares rose and comments by President Barack Obama made investors optimistic that a quick deal could be made to avoid the “fiscal cliff.” The fiscal cliff is a combination of automatic spending cuts and tax increases that are set to go into effect in January unless Congress acts before then.

This story is only available from our archives.

Business, Pages 26 on 12/06/2012

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