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New York - Stocks Skyrocket: Dow Gains 308 Points On 'Cliff' Deal

Published on: January 2, 2013 04:23 PM
By: AP
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Traders work on the floor of the New York Stock Exchange at the Opening Bell in New York, New York, USA, 02 January 2013. EPA/JUSTIN LANETraders work on the floor of the New York Stock Exchange at the Opening Bell in New York, New York, USA, 02 January 2013. EPA/JUSTIN LANE

New York - Stocks roared higher on Wall Street and around the world after Congress passed a last-minute budget deal to avert sweeping tax hikes and government spending cuts.

The Dow Jones industrial jumped 308 points to close at 13,412 Wednesday, the first trading day of the year. That’s the biggest gain the Dow has had since December 2011.

The Standard & Poor’s 500 index rose 36 points to 1,462. The Nasdaq composite rose almost 93 points to 3,112.

The gains were broad. Ten stocks rose for every one that fell on the New York Stock Exchange.

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Technology and bank stocks had the biggest gains.

Car-sharing company Zipcar surged 48 percent after agreeing to be bought by Avis for nearly $500 million.

Volume was heavier than the recent average at 4.1 billion shares.


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Read Comments (6)  —  Post Yours »

1

 Jan 02, 2013 at 05:04 PM Anonymous Says:

It looks good, tell me in 6 months from now how good it is. Inflation is coming. $40,000,000,000 printed paper every month with nothing behind it=inflation

2

 Jan 02, 2013 at 08:13 PM Buchwalter Says:

Reply to #1  
Anonymous Says:

It looks good, tell me in 6 months from now how good it is. Inflation is coming. $40,000,000,000 printed paper every month with nothing behind it=inflation

Your invest fund [Fidelity etc. will go up, Merck, GE etc.] nothing behind except an international good dollar and stop wailing crocodiles tears.

3

 Jan 02, 2013 at 08:40 PM ayinglefunadorf Says:

Reply to #1  
Anonymous Says:

It looks good, tell me in 6 months from now how good it is. Inflation is coming. $40,000,000,000 printed paper every month with nothing behind it=inflation

"It looks good, tell me in 6 month" If you dont think its good, short the Market and will make a lot of money if you are right. I wouldnt advise you. Dont go against Buffet.

4

 Jan 03, 2013 at 10:12 AM Kzler Says:

Reply to #1  
Anonymous Says:

It looks good, tell me in 6 months from now how good it is. Inflation is coming. $40,000,000,000 printed paper every month with nothing behind it=inflation

There are others without a stock portofolio and will have to deal with same inflation. You poeple know only one things me and me, greedy, selfish Yiddishe goyim

5

 Jan 03, 2013 at 02:13 PM anonymous Says:

Reply to #1  
Anonymous Says:

It looks good, tell me in 6 months from now how good it is. Inflation is coming. $40,000,000,000 printed paper every month with nothing behind it=inflation

Greedy chazer there are millions of people who face cuts in Medicare and will be without medications for which they have no money

6

 Jan 03, 2013 at 02:35 PM ShmuelG Says:

Reply to #1  
Anonymous Says:

It looks good, tell me in 6 months from now how good it is. Inflation is coming. $40,000,000,000 printed paper every month with nothing behind it=inflation

Yes, inflation is coming, I have very little doubt. So it is wise to diversify your portfolio to include commodities, especially precious ones.

7

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