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Stocks Hold Gains on 'Cliff' Deal Optimism

November 28, 2012

Stocks held their gains across the board Wednesday, with the S&P 500 trading above 1,400, after President Barack Obama addressed the ongoing "fiscal cliff" issue and following some positive comments from Speaker John Boehner. "You have an 11-percent gain on the S&P 500 this year-I can sell now and know what my capital gain and income taxes are going to be. But I have no idea what they're going to be in 2013," explained Brian Battle, vice president of trading at Performance Trust Capital Partners. "So I think there's going to be a lot of selling ahead, not for fundamental reasons but for technical reasons."

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