Stocks gain on ‘cliff’ hope, led by banks

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 Dow Jones industrial average rose 82.71 points to end at 13,034.49. It had been up as much as 137. The Standard and Poor’s 500 closed up 2.23 points to 1,409.28. The Nasdaq composite was down 22.99 points to 2,973.70, held back by a slump in Apple.

By: By Steve Rothwell, Associated Press, The Jamestown Sun