Stocks Ended Higher on Cliff Talks

U.S. stocks finished higher on Monday, as Wall Street held out hope for a deal to avert the fiscal cliff. The Dow industrials climbed 14.75 points, or 0.11%, to 13,169.88. The S&P 500 added 0.48 point to 1,418.55. The Nasdaq Composite climbed 8.92 points, or 0.30%, to 2,986.96.

President Barack Obama warned Monday that he “won’t compromise” on his demands that the wealthiest Americans pay more in taxes, digging in on the chief sticking point between the White House and Republicans as they seek a way to avert the “fiscal cliff.”

Texas Instruments Inc. (NASDAQ:TXN) on Monday narrowed its sales and earnings outlook for the fourth quarter. The Dallas-based chip maker said it now expects revenue in the range of $2.89 billion to $3.01 billion, compared with a previous range of $2.83 billion to $3.07 billion. TI also said it now expects a profit of 5 cents a share to 9 cents a share, compared with a prior outlook of 23 cents a share to 31 cents a share.

Ford said it has developed a fix that stops an engine-overheating and fire problem in some of its newest Escape SUV and Fusion sedan models.