Wall Street pares losses after Boehner comments

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November 29, 2012 2:56 AM EST

Stocks sharply pared losses after U.S. House Speaker John Boehner voiced optimism that Republicans could reach a deal with the White House to avoid year-end austerity measures.

The Dow Jones industrial average <.DJI> dropped 11.59 points, or 0.09 percent, to 12,866.54. The Standard & Poor's 500 Index <.SPX> shed 2.70 points, or 0.19 percent, to 1,396.24. The Nasdaq Composite Index <.IXIC> lost 5.81 points, or 0.20 percent, to 2,961.98.

(Reporting by Chuck Mikolajczak; Editing by Kenneth Barry)

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Copyright 2012 Thomson Reuters. All rights reserved.

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