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U.S. Stocks Extend Gains as Obama Plans Statement on Budget

U.S. stocks extended gains as President Barack Obama planned to make a statement on budget negotiations at 1:30 p.m. in Washington, fueling optimism that lawmakers are making progress on a compromise.

The Standard & Poor’s 500 Index added 0.8 percent to 1,413.08 at 12:44 p.m. in New York and the Dow Jones Industrial Average climbed 66 points.

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