News Summary: Stocks gain as banks and insurers advance, hopes of "cliff" deal

  • by: The Associated Press , Associated Press
  • Updated: December 5, 2012 - 4:13 PM

BANKS AND INSURERS: Citigroup gained after it said that it was slashing 11,000 jobs, or 4 percent of its workforce. Travelers rose after the insurance company said it was resuming a share buyback program.

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