NEW YORK (Reuters) - Stocks sharply trimmed earlier gains, with the Dow industrials and S&P 500 briefly dropping, after the top Republican in Congress, John Boehner, said there had been no substantive progress in fiscal talks over the last two weeks.
The Dow Jones industrial average <.dji> edged up 8.18 points, or 0.06 percent, to 12,993.29. The S&P 500 <.spx> gained 3.11 points, or 0.22 percent, to 1,413.04. The Nasdaq Composite <.ixic> added 11.85 points, or 0.40 percent, to 3,003.63.
The S&P had gained as much as 0.7 percent before Boehner spoke.
Discussions are ongoing in Washington over avoiding big spending cuts and tax hikes, dubbed the "fiscal cliff," that are due to take effect from January.
(Reporting by Rodrigo Campos; Editing by Bernadette Baum)
Wall Street advances on budget progress, mood cautious
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Wall Street advances on budget progress, mood cautious
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Wall Street advances on budget progress, mood cautious
