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Stocks trade mixed as budget talks continue


February 19. 2013 8:29PM
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(AP) Stocks are mixed in midday trading as investors wait for news out of budget talks being held in Washington.


Big Lots soared 9 percent after the discount retailer beat analysts' earnings forecasts and raised its estimate for full-year earnings.


The Dow Jones industrial average was up 16 points at 12,982 shortly before noon Tuesday.


The Standard & Poor's 500 index was down one point at 1,408. The Nasdaq composite index fell nine points to 2,993.


Pep Boys plunged 13 percent after posting a loss on weak sales at the company's auto stores and rising costs.


In Washington, talks are proceeding on how to avoid a fiscal crunch of higher taxes and government spending cuts set to automatically kick in at the beginning of the year.


Associated Press


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