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Markets soar on fiscal cliff optimism
 

U.S. stock markets on Monday soared on investor confidence that Republicans and Democrats would soon reach a deal to avoid the fiscal cliff at the end of the year, when a slate of tax hikes and deep spending cuts are scheduled to go into effect. The Dow Jones Industrial Average climbed 207.65 points, or 1.65 percent, to close at 12,795.96, while the larger S&P 500 index gained 27.01 points, or 1.99 percent, to end the day at 1,386.89.

 

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