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

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 2014 the year you get RICH!

Latest Headlines

China to tackle 'fortress economies' in new super-region planChina to tackle 'fortress economies' in new super-region plan
TIANJIN China (Reuters) - China is readying an assault on the "fortress economies" of local governments by creating a super region around Beijing, with proposals that sources suggest will be more ag...
As credit dries up, troubled Chinese steel makers lose lifelineAs credit dries up, troubled Chinese steel makers lose lifeline
TANGSHAN China (Reuters) - In Tangshan, a polluted industrial Chinese city that produces more steel a year than the entire United States, the Xinming Steel Pipe Plant shut earlier this month leaving...
NY Fed found serious problems at Deutsche Bank's U.S. arms: WSJNY Fed found serious problems at Deutsche Bank's U.S. arms: WSJ
(Reuters) - The Federal Reserve Bank of New York has found serious problems in Deutsche Bank AG`s U.S. operations, including shoddy financial reporting, inadequate auditing and oversight and weak tech...
NY Fed found serious problems at Deutsche Bank's U.S. arms: WSJNY Fed found serious problems at Deutsche Bank's U.S. arms: WSJ
(Reuters) - The Federal Reserve Bank of New York has found serious problems in Deutsche Bank AG`s U.S. operations, including shoddy financial reporting, inadequate auditing and oversight and weak tech...
Apple revenue lags Street view despite strong China growthApple revenue lags Street view despite strong China growth
SAN FRANCISCO (Reuters) - Apple Inc posted a smaller-than-expected 6 percent rise in quarterly revenue on Tuesday, but revenue surged 28 percent in greater China despite intense competition in its thi...

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.