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Independent voices from the The Washington Times Communities
Topic - Joe Costigan
Stocks climbed on Wall Street on Tuesday, pushing the Standard and Poor's 500 to its highest level in two months, amid optimism that lawmakers are closing in on a budget deal that will stop the U.S. from going over the "fiscal cliff" at the beginning of next year.
The market closed roughly flat Thursday, underwhelmed by encouraging jobs news but unrattled by worrisome developments in the global economy.
"People are cheering the prospect for some compromise in Washington right now," said Joe Costigan, director of equity research at Bryn Mawr Trust Co. "At the moment there is some pretty good news and the market is reacting favorably to it, but the deal isn't done yet."