Stocks reduced their losses after word the U.S. House would convene Sunday night as lawmakers try to reach a deal to break the budget impasse before the end of the year. Investor unease over the unresolved fiscal cliff had pushed equities to multiweek lows and propelled the CBOE Volatility Index above 20 for the first time since late July. Also, consumer confidence declined in December as the budget battle darkened the public’s view of the economy, new-home sales rose to a more-than-two-year high in November, while a initial jobless claims fell by 12,000 to 350,000 last week. Apple was among the most notable gainers, rising 0.4%, as the co. had filed its proxy statement with the SEC, which showed a large increase in the 2012 base salary for CEO Tim Cook, though his total compensation package fell sharply because of a large stock grant the previous year that was not repeated. Research In Motion seesawed in trading after hours and finished 0.43% higher after Synchronoss Technologies said it paid $55.5 million in cash to buy NewBay from RIM.
