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Stocks little changed as budget talks continue

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Stocks barely budged as US budget talks continued. The president said a plan by the House speaker was ‘‘still out of balance’’ and insisted the wealthy pay higher taxes. Trading will be increasingly more volatile the longer the fiscal-cliff talks progress without a deal, said JJ Kinahan, at TD Ameritrade. Still, the market has gained back nearly all of a post-election slide. The S&P 500 is about 1.5% below where it was Nov. 6. By mid-November it had dropped as much as 5%. The index is up 12% this year. But high debt and slowing global growth will weigh on the economy, Bill Gross, managing director of PIMCO, told investors.

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