Stocks Rise After Boehner Signals Compromise

    NEW YORK, NY - NOVEMBER 23:  Babar the Elephant, the French fictional children's character by Jean de Brunhoff, celebrates the 80th Birthday of Babar with the Saks Yeti, Tracy Haffner, SVP, Marketing Saks, Colin Bohm, Managing Director of Nelvana Enterprises and Clifford Ross, President of The Clifford Ross Company by ringing the closing bell and visiting the trading floor at the New York Stock Exchange on November 23, 2012 in New York City.  (Photo by Neilson Barnard/Getty Images)

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    House Speaker John Boehner’s cautious optimism that the fiscal cliff may be averted gave investors a reason to rally on Wednesday. After weeks of volatile trading, the Dow Jones industrial average was up about 65 points this afternoon as was the S&P 500, which had gained more than four points on the day. Analysts say the markets were mostly responding to Boehner’s comments that he was optimistic a budget deal could be struck—despite the House Republicans’ aversion to raising taxes on the wealthy. President Obama also expressed hope Wednesday that a deal would be reached before the Bush tax cuts expire for all income groups.

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