Monday, December 31, 2012 11:47 am
Stocks struggle for direction as 'cliff' nears
The Associated Press
Negotiators from the White House and congressional Republicans were trying to narrow their differences Monday to reach a budget compromise ahead of a midnight deadline.
The Dow Jones industrial average hopped between small gains and losses. Shortly before noon it was up two points at 12,940.
The Standard & Poor's 500 index was up three points at 1,406 and the Nasdaq composite was up 18 at 2,978.
The Dow Jones industrial average is set to close about 6 percent higher for the year, slightly better than last year's gain of 5.5 percent.