The Dow Jones industrial average had been up as much as 77 points in morning trading Thursday, then briefly turned negative after Boehner’s remarks at 11:30 a.m. Eastern. Shortly after noon the Dow was up 20 points at 13,005.
The Standard & Poor’s 500 was up four points at 1,414 and the Nasdaq was up 15 at 3,006.
The market got off to a strong start following several positive economic reports, including a higher estimate of third-quarter U.S. economic growth, an increase in home sales and a drop in claims for unemployment benefits.
Following a meeting with Treasury Secretary Tim Geithner, Boehner told reporters that Democrats still haven’t said which cuts they would accept to government benefit programs, suggesting a final budget deal remains a long way off. Republicans have said that they are open to increasing tax revenues as part of an agreement but only if they’re accompanied by significant cuts to spending.