U.S. Stocks Erase Gains as Optimism Over Budget Talks Fades

U.S. stocks erased gains as optimism over budget talks in Washington faded.

The Standard & Poor’s 500 Index was little changed at 1,353.39 at 2:28 p.m. in New York after climbing as much as 0.6 percent as House Speaker John Boehner said talks about the so- called fiscal cliff with President Barack Obama were “constructive” and he’d accept higher government revenue if it was coupled with spending cuts.

To contact the editor responsible for this story: Michael P. Regan at mregan12@bloomberg.net

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