Wall Street Advances at Open on 'Fiscal Cliff' Hope

Category: Markets / Finance / Dec 17, 2012 11:27AM EDT
U.S. stocks opened higher on Monday (December 17) as investors were encouraged by signs of movement on "fiscal cliff" negotiations over the weekend. Republican House Speaker John Boehner edged slightly closer to President Barack Obama's key demands as they try to avert the tax hikes and spending cuts that are set to take effect in the new year. The Dow Jones industrial average gained 32.10 points, or 0.24 percent, to 13,167.11. The Standard & Poor's 500 Index rose 3.92 points, or 0.28 percent, to 1,417.50. The Nasdaq Composite Index added 5.94 points, or 0.20 percent, to 2,977.28.