GOP Uses Twitter, Facebook to Revive 'Cliff' Talks and Rally Market

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In a second Senate floor address of the day after the market close, Reid replied to McConnell, saying he would be willing to act on a "reasonable" proposal offered by House or Senate Republicans.

"I am now neutral/small bullish. Been a week or so since I felt comfortable not being short US stocks," wrote Peter Tchir, founder of TF Market Advisors, wrote on Twitter, as details of a last-minute effort to cut a fiscal cliff deal emerged.

As Senators McConnell and Reid spoke at the market close, others thought Thursday's theatrics wouldn't amount to much in the way of a deal. "Fallin over the cliff looks like near inevitable as Reps and Dems are deadlocked," Nouriel Roubini wrote on Twitter.

For more on the fiscal cliff, see why a housing recovery could blunt a partisan standoff . Also see why bank stocks fell on Thursday .

-- Written by Antoine Gara in New York