News Summary: US stocks rise on fiscal optimism

News Summary: US stocks rise as traders see progress toward avoiding fiscal calamity

Associated Press

BOUNCING BACK: U.S. stocks shook off their post-election slump Monday, recording their biggest gain in more than two months. It was the market's first big, broad rise since election day, Nov. 6. Since then, the Dow Jones industrial average had fallen 5 percent.

TYSON KNOCKOUT: A pair of strong corporate earnings reports from Lowe's and Tyson Foods supported the rally.

CLIFF NOTES: Traders appear more confident that leaders will strike a deal to avoid the "fiscal cliff," a package of government spending cuts and tax increases that will take effect next year unless Congress and the White House can strike a deal.

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