U.S. stocks shot higher on Monday, the last day of the year, on the belief that lawmakers would work out a deal to avert the "fiscal cliff." By the time trading closed, the White House and Senate Republicans said they had agreed on some points but still had no deal in hand.
The Dow Jones industrial average rose 166.03 points, or 1.3 percent, to 13,104.14.
The Standard & Poor's 500 rose 23.76, or 1.7 percent, to 1,426.19.
The Nasdaq composite index rose 59.20, or 2 percent, to 3,019.51.
For the year:
The Dow finished up 886.58, or 7.3 percent.
The S&P 500 finished up 168.59, or 13.4 percent.
The Nasdaq composite index finished up 414.36, or 15.9 percent.
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