Stocks inch higher as fiscal deadline nears

Published on NewsOK Modified: December 27, 2012 at 8:45 am •  Published: December 27, 2012

NEW YORK (AP) — Stocks are edging higher on Wall Street as hopes dim that a budget deal will be reached before a deadline at the end of the year.

The Dow Jones industrial average inched up 23 points to 13,138 shortly after the opening bell Thursday. The Dow and other major market indicators are coming off three days of losses.

The Standard & Poor's 500 index edged up three points to 1,423 and the Nasdaq rose two points to 2,992.

Chipmaker Marvell Technology Group dropped 4 percent after the company lost a patent case brought by Carnegie Mellon University. Marvell said it would fight the $1.2 billion ruling.

In Washington, President Barack Obama was returning from Hawaii in a last-ditch effort to hammer out a budget compromise by year-end.


Trending Now


  1. 1
    Mayor Who Fired Lesbian Police Chief Caught On Tape In Homophobic Tirade
  2. 2
    NBA commissioner wants to raise age limit to 20
  3. 3
    Dream guitars I wouldn't mind calling my own (34 Photos)
  4. 4
    Glen Campbell Moved to Health Care Facility
  5. 5
    Why the U.S. government is 'trolling' terrorists on social media -
+ show more