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.

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Business, Pages 26 on 12/06/2012