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U.S. Stocks Erase Gain as Optimism About Fed Plan Fades

U.S. stocks erased gains as optimism about Federal Reserve plans to buy more bonds faded, with investor focus returning to the budget deadlock in Washington.

Berkshire Hathaway Inc. climbed 2.4 percent after lifting the threshold it will pay for stock, signaling Chief Executive Officer Warren Buffett views the shares as undervalued. DuPont Co. advanced 1.4 percent as the chemical maker announced a share buyback and said 2012 earnings will be at the high end of forecasts. Eli Lilly & Co. sank 3.2 percent after saying it’s conducting an added study for an experimental Alzheimer’s drug.