The Norman Transcript

Nation/World

December 19, 2012

Stocks climb amid optimism about deal

NEW YORK — Stocks climbed on Wall Street Tuesday, pushing the Standard and Poor’s 500 to its highest level in two months, on optimism that lawmakers are closing in on a budget deal that will stop the U.S. from going over the “fiscal cliff.”

The Dow Jones industrial average rose 115.57 points to 13,350.96. The Standard & Poor’s 500 rose 16.43 points to 1,446.79, its highest close since Oct. 18. The Nasdaq composite rose 43.93 points to 3,054.53.

House Speaker John Boehner told reporters he remains hopeful that a fiscal cliff compromise can be reached but said President Barack Obama has yet to offer a balanced deficit-cutting plan. Boehner said Obama’s latest offer for $1.3 trillion in tax increases over the next decade with $850 billion in spending cuts is not enough. The White House says that President Obama has moved halfway to meet Boehner on a budget deal.

“People are cheering the prospect for some compromise in Washington right now,” said Joe Costigan, director of equity research at Bryn Mawr Trust Co. “There is some pretty good news and the market is reacting favorably to it, but the deal isn’t done yet.”

For local news and more, subscribe to The Norman Transcript Smart Edition, or our print edition.

1
Text Only | Photo Reprints
Nation/World
  • At mudslide scene, Obama mourns with survivors

    OSO, Wash. — Swooping over a landscape of unspeakable sadness and death, President Barack Obama took an aerial tour Tuesday of the place where more than three dozen people perished in a mudslide last month. He pledged a nation’s solidarity ...

    April 23, 2014

  • GM, lawyers fight over protections

    DETROIT — General Motors Co. and a battalion of trial lawyers are preparing for an epic court fight over whether GM is liable for the sins of its corporate past. The company is asking a U.S. bankruptcy court to shield it from legal claims ...

    April 23, 2014

  • Boston Marathon One year after tragedy, 32,000 run Boston Marathon

    BOSTON — Some ran to honor the dead and wounded. Others were out to prove something to the world about their sport, the city or their country. And some wanted to prove something to themselves....

    April 22, 2014 1 Photo

  • Festivities, tight security before race

    BOSTON — In many ways, it felt like any other pre-marathon Sunday in Boston....

    April 21, 2014

  • Boston race makes room for those affected by bombs

    BOSTON — “I need to run.” The messages started arriving just hours after the bombings, pleading for an entry into the 2014 Boston Marathon. For months the calls and emails continued, runners begging for an opportunity to cross the finish ...

    April 21, 2014

  • Documents detail another delayed GM recall for failed power steering

    DETROIT — General Motors waited years to recall nearly 335,000 Saturn Ions for power steering failures despite getting thousands of consumer complaints and more than 30,000 warranty repair claims, according to government documents released ...

    April 20, 2014

  • Landslide devouring part of Wyoming town

    JACKSON, Wyo. — A slow-motion disaster continued unfolding in the Wyoming resort town of Jackson on Saturday, as a creeping landslide that split a hillside home threatened to swallow up more houses and businesses. The ground beneath the ...

    April 20, 2014

  • Questions about missing Malaysian plane answered

    Travelers at Asian airports have asked questions about the March 8 disappearance of Malaysia Airlines Flight 370 while en route from Kuala Lumpur to Beijing. Here are some of them, followed by answers. Samuel Rogers is a 20-year-old ...

    April 20, 2014

  • NASA’s space station Robonaut finally getting legs

    CAPE CANAVERAL, Fla. — Robonaut, the first out-of-this-world humanoid, is finally getting its space legs....

    April 20, 2014

  • Hostage French journalists in Syria freed

    PARIS — Four French journalists held hostage in Syria for 10 months have been released, officials said Saturday, the latest batch of reporters to be freed in what has become the world’s deadliest conflict for the media....

    April 20, 2014