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US stocks rise despite fiscal cliff concerns

stock32NEW YORK: US stocks scored solid gains Wednesday despite concerns that politicians will fail to avert looming tax hikes and spending cuts expected to jolt the economy into recession.


The Dow Jones Industrial Average was up 106.36 points (0.83 percent) at 12,984.49 in closing trade, snapping two days of losses.


The S&P 500-stock index gained 10.91 (0.78 percent) at 1,409.85, while the Nasdaq Composite added 23.99 (0.81 percent) at 2,991.77.


Copyright AFP (Agence France-Presse), 2012