Stock:
Symbol Lookup
Register | Login
...
History
...
...

Pre Market | Dow Jones | Gold | Newsletters | Learn


Stocks Rally as Fiscal Cliff Worries Ease

Monday, November 19, 2012 5:44 PM
Stock surged in trading today, with all three major indexes finishing near session highs, amid hopes that the fiscal cliff can be averted after lawmakers expressed confidence in reaching a deal on reducing U.S.’s fiscal cliff deadline before the year-end deadline. Investors’ sentiment was also lifted by better than expected housing market data. The Dow Jones ended the day 1.65% higher at 12,795.96, the S&P 500 ended the day 1.99% higher at 1,386.89, and the Nasdaq ended the day 2.21% higher at 2,916.07. All sectors in the S&P 500 rallied today. The gains in the S&P 500 were led by Technology sector, which ended the day 2.53% higher. Basic Materials sector also surged, ending the day 2.31% higher. Industrials rose 2.32%. Stocks got off to a strong start earlier today after congressional leaders late last week expressed confidence about reaching a deal on reducing the fiscal deficit before the deadline and avert the fiscal cliff. Concerns over the fiscal cliff had sparked a sell-off in risk assets in the last few days. Congressional leaders and President Obama began discussions on the fiscal cliff issue last Friday and early indications are that a deal will be sealed and the cliff will be averted. This boosted investors’ risk appetite in trading today. Investors’ sentiment was further boosted by better than expected data from the housing market. According to the National Association of Realtors, existing home sales rose in the month of October to a seasonally adjusted annual rate of 4.79 million units. Meanwhile, a report from the National Association of Realtors showed that homebuilder sentiment rose for a seventh consecutive month in November. Among the major gainers in trading today were Green Mountain Coffee Roasters Inc. (NASDAQ: GMCR), which ended the day 11.32% higher at $27.33, Tyson Foods Inc. (NYSE: TSN), which ended the day 10.90% higher at $18.72, and Lowe’s Companies Inc. (NYSE: LOW), which ended the day 6.19% higher at $33.96. European markets also rallied in trading today, with the FTSE 100 Index in London closing 2.36% higher, and the CAC 40 Index in Paris closing 2.93% higher. Asian markets also edged higher overnight, with the Nikkei 225 Index in Japan closing 1.43% higher and the Hang Seng Index in Hong Kong closing 0.49% higher.  
PRINT

FREE Options Trading Lessons
I'll show you how to unlock HUGE Gains with Options Trading
Let's make 2014 the year you get RICH!

Latest Headlines

Eli Lilly misses revenue forecastEli Lilly misses revenue forecast
(Reuters) - U.S. drugmaker Eli Lilly and Co <LLY.N> on Thursday reported lower than expected revenue, hurt by plunging sales of its Cymbalta depression drug, which is now facing generic competit...
UPDATE 2-Pernod looks for more bolt-on deals after U.S buyUPDATE 2-Pernod looks for more bolt-on deals after U.S buy
* Q3 sales 1.62 bln euros, flat like-for-like * Keeps full-year goal for 1-3 pct operating profit growth * Buys California wine maker Kenwood Vineyards * Looking for more bolt-on deals, no large...
Nokia says India plant unlikely to be part of Microsoft dealNokia says India plant unlikely to be part of Microsoft deal
NEW DELHI, April 24 (Reuters) - Nokia said that due to an ongoing tax dispute its Indian mobile phone handset plant was unlikely to be included in a deal due to be concluded on Friday for the sale of ...
Dunkin's results miss as cold weather puts hole in U.S. salesDunkin's results miss as cold weather puts hole in U.S. sales
(Reuters) - Dunkin` Brands Group Inc <DNKN.O>, parent of Dunkin` Donuts and Baskin-Robbins ice cream outlets, reported lower-than-expected quarterly results as extreme cold weather in parts of t...
Time Warner Cable profit rises 19.5 pctTime Warner Cable profit rises 19.5 pct
April 24 (Reuters) - Time Warner Cable Inc, the second-largest U.S. cable operator, posted a 19.5 percent rise in quarterly profit as its residential subscriber trends improved through the quarter. ...

Loading Headlines...
 

Stock Market

Track the stock market today with the latest news and information on all things investing! Watch your stocks perform throughout the day and watch the breaking stock market news.

Feedback | disclaimer | privacy policy

Stock Market News

The Stock Market is ever changing. Keep up on your stock market news.

Stock Market Newsletters

Read up on your favorite stock market newsletters.


Learn the Stock Market

Sharper your stock trading skills with our stock market education section.