Stock:
Symbol Lookup
Register | Login My Watchlist | My Account | Logout
History
to View Your Portfolio

Pre Market | Dow Jones | Gold | Newsletters | Learn


Stocks Sharply Higher in Mid-Day Trading

Wednesday, January 2, 2013 1:29 PM
U.S. stocks pared some of its initial gains but still firmly traded in green territory by midday trade on Wednesday after the lawmakers in Washington managed to cut a deal and averted the fiscal cliff. Investors’ sentiment has also been boosted by better than expected manufacturing data also boosted the risk appetite. At last check, the Dow Jones Industrial Average Index was gaining 1.74; the Nasdaq Composite Index was up 2.29 the S&P 500 Index was 1.77% The across-the-board rally comes after Wall Street stocks ended 2012 on a strong note. The DJIA gained nearly 7 percent, the NASDAQ Composite gained nearly 17 percent while the S&P 500 Index climbed 13.4 percent during the year. All key S&P 500 sectors were in green territory with tech and financial stocks gaining the most. After weeks of uncertainty caused by policy stalemate in Washington, global equities rallied on Wednesday after the U.S. Congress passed a deal which prevented series of dreaded automatic spending cuts and tax increases on majority of Americans. However, quite a few challenges do remain unresolved such as long-term spending cuts and debt ceiling issue, which are expected to spark heated rounds of debate among congressional leaders in next two months. On U.S. economic data front, a data provided by the Institute of Supply Management (ISM) showed that manufacturing activities expanded in December. The Index stood at 50.7, beating analysts’ consensus estimate of 50.3. According to the Commerce Department, construction spending slipped 0.3 percent in November. Economists were expecting spending to increase by 0.6 percent. Despite Raymond James slashing its price target on the stock to $690 from $700, shares of Apple Inc. (NASDAQ: AAPL) gained on Wednesday the news emerged that ipad manufacturer started testing hardware for iPad6. Shares of Zipcar Inc. (NASDAQ: ZIP) climbed over 50 percent after Avis Budget Group Inc. (NASDAQ: CAR) agreed to acquire its smaller rival in an all cash deal of $500 million. Elsewhere in Europe, all leading benchmark Indexes ended strongly with Pan European Stoxx 600 Index ending 2.02 % up.
PRINT

FREE Options Trading Lessons
I'll show you how to unlock HUGE Gains with Options Trading
Let's make 2016 the year you get RICH!

Latest Headlines

Indian central bank chief wins over Modi despite broad mistrustIndian central bank chief wins over Modi despite broad mistrust
NEW DELHI (Reuters) - In late 2014, the knives were out for India`s central bank governor Raghuram Rajan. Finance ministry officials were frustrated by his reluctance to cut interest rates to stimul...
Valeant to report first-quarter results on June 7Valeant to report first-quarter results on June 7
(Reuters) - Valeant Pharmaceuticals Inc , which has come under scrutiny for its business and accounting practices, said on Tuesday it would host a conference call on June 7 to discuss first-quarter re...
Shari Redstone says she does not want to manage ViacomShari Redstone says she does not want to manage Viacom
LOS ANGELES (Reuters) - Shari Redstone, the daughter of media mogul Sumner Redstone, said in a statement on Tuesday that she has no desire to manage Viacom Inc or to chair its board. The statement w...
Shari Redstone says she does not want to manage ViacomShari Redstone says she does not want to manage Viacom
LOS ANGELES (Reuters) - Shari Redstone, vice chair of Viacom Inc and the daughter of controlling shareholder Sumner Redstone, said on Tuesday she has no desire to manage the media conglomerate or to c...
Brazil posts primary budget surplus but record deficit on trackBrazil posts primary budget surplus but record deficit on track
BRASILIA (Reuters) - Brazil had a steep primary budget surplus in April, beating market expectations and recovering from a deficit the previous month, but not nearly enough to avert an expected record...

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.

{localized={en_US=Terry}, preferredLocale={country=US, language=en}} {localized={en_US=Scott}, preferredLocale={country=US, language=en}}

Terry Scott
CEO of StockMarketWatch

View Profile


Learn the Stock Market

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

Be a Better
Trader, Today
arrow
PreMarket PRO Our New Streaming Realtime Pre-Market Product -- Click Here to Learn More