The Straits Times
Published on Dec 11, 2012

US stocks end slightly higher amid hopes for 'cliff' deal


NEW YORK (AFP) - US stocks ended slightly higher on Monday amid hopes that a political deal over the looming fiscal cliff was in the works.

Markets showed little effect from the fresh turmoil in the euro zone, after Italian Prime Minister Mario Monti said he would resign in the coming days and Silvio Berlusconi threatened a comeback on an anti-austerity platform.

At the close the Dow Jones Industrial Average was up 14.75 points (0.11 per cent) to 13,169.88. The broad-market S&P 500 added 0.48 (0.03 per cent) to 1,418.55, while the tech-rich Nasdaq Composite rose 8.92 points (0.30 per cent) to 2,986.96.

Transportation and basic materials shares were strongest, while consumer goods slipped.