Despite gridlock, indexes up for ’12
well as simultaneous government spending cuts beginning Jan. 1. Those measures, if implemented, could push the economy back into recession, economists say.
Stocks had also closed lower Thursday but erased most of an early loss after Republicans said they would reconvene the House of Representatives on Sunday in hopes of piecing together a last-minute budget deal.
Traders have been focusing on Washington, and the budget negotiations, since the Nov. 6 presidential election returned a divided government to power.
“I can’t wait till this is done so we can start talking about markets again and not just about