Stocks Close Higher As Budget Talks Progress

NEW YORK (December 18, 2012)--Stocks closing up Tuesday on Wall Street amid growing optimism lawmakers are closing in on a budget deal.

The Dow Jones industrial average rose 116 points to close at 13,351 Tuesday.

The Standard and Poor's 500 index rose 16 points to end the day at 1,447, the highest in two months.

The Nasdaq composite rose 44 points to close at 3,054.

U.S. House Speaker John Boehner told reporters Tuesday he remains hopeful that a compromise can be reached, but he said President Barack Obama has yet to offer a balanced plan to cut the budget deficit.

Radio ratings provider Arbitron jumped after the company agreed to a purchase by TV ratings company Nielsen.

Nearly three stocks rose for every two that fell on the New York Stock Exchange where volume was 4.1 billion shares, higher than the recent average.

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