De­spite grid­lock, in­dexes up for ’12

Stocks

Austin American-Statesman - - BUSINESS - Con­tin­ued from B

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

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