Bank Of America (BAC) shares climbed to their highest level in 15 months, leading other financial stocks higher amid apparent progress on talks to avert the fiscal cliff. Shares closed 4% higher at 11. Speaker John Boehner offered $1 tril in higher taxes revenue over 10 years and an increase on the top marginal income tax rate for people making $1 mil per year. Pres. Obama wants higher rates applied on applied to Americans making more than $250,000 a year. Citigroup (NYSE:C)shares rose 4.1%, JPMorgan Chase (JPM) 1.6% and Wells Fargo (WFC) 3.7%.
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