Stocks Mostly Gain, Apple Weighs on Nasdaq

U.S. stocks mostly rose on Wednesday,  but the Nasdaq Composite fell with Apple Inc, as investors applauded what appeared to be a softening of stances in talks to avert the fiscal cliff. The Dow Jones Industrial Average added 82.71 points, or 0.64%, to 13,034.49. The S&P 500 index rose 2.23 points, or 0.16%, to 1,409.28. The Nasdaq Composite fell 22.99 points, or 0.77%, to 2,973.70, with the index hit as Apple Inc. (NASDAQ:AAPL) fell 6.4%.

Republicans and Democrats dug in on “fiscal cliff” talks on Wednesday, with both sides urging quick action but offering no compromises in a political stare-down that shows no signs of breaking.

AAPL shares fell more than four percent following news that margin requirements are being raised to 60 percent from 30 percent by COR Clearing.

In a victory for the oil and gas industry, a federal Energy Department study released Wednesday concluded that the national economic benefits of significant natural gas exports far outweighed the potential for higher consumer energy prices.