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Originally published Friday, November 16, 2012 at 1:55 PM

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News Summary: Stocks gain on budget talks optimism

STOCKS RALLY: Stock indexes gained for the first day in four after Congressional leaders reported progress in talks with President Barack Obama about cutting the U.S. government's budget deficit. Stocks have slumped since Election Day, Nov. 6, on concern that the U.S. will go over the "fiscal cliff."

The Associated Press

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STOCKS RALLY: Stock indexes gained for the first day in four after Congressional leaders reported progress in talks with President Barack Obama about cutting the U.S. government's budget deficit. Stocks have slumped since Election Day, Nov. 6, on concern that the U.S. will go over the "fiscal cliff."

STILL DOWN FOR THE WEEK: U.S. stocks still closed down on the week, with the Dow Jones industrial average down 227 points for the week. The S&P 500 fell 1.5 percent.

DELL CRASHES: PC maker Dell fell 70 cents, or 7.3 percent, to $8.86 after it gave investors a bleak outlook. The company is struggling as consumers switch to smartphones and tablets.

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