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

Pre Market | Dow Jones | Gold | Newsletters | Learn


U.S. Stocks Sharply Higher in Early Trading

Wednesday, January 2, 2013 11:05 AM
Stocks rallied in early trading on Wednesday as market sentiment, which remained on tenterhooks for last two months in the backdrop of policy logjam in Washington due to issue of tax increases and spending cuts, was boosted immensely after lawmakers finally cleared the bill that averts the fiscal cliff even as some other budget issues such as long-term spending cuts remain unresolved. At last check, the Dow Jones Industrial Average Index climbed 2.02%; the Nasdaq Composite Index leaped 2.75% while the S&P 500 Index jumped 2.19% Late on Tuesday night, the House of Representatives, dominated by Republicans, cleared the bill, which would raise taxes on individuals having an annual income above $400,000 or $450,000 for couples to 39.6 percent from 35 percent, a demand made by President Obama ever since he started his reelection campaign. The bill now needs President Obama’s sign in order to become a law. Meanwhile hosts of other issues such as long-term spending cuts, and debt ceiling limit (which is technically over but accounting adjustment has enabled the government to continue with its normal functions for two more months), will keep investors slightly edgy in coming weeks. In some corporate news, shares of Zipcar Inc. (NASDAQ: ZIP) rallied after larger rival Avis Budget Group Inc. (NASDAQ: CAR)  announced that it agreed to acquire Zipcar in an all cash deal, valued at $500 million or $12.5 per share, representing a premium of 49 percent on ZIP’s closing value on December 31st 2012. Shares of social networking giant, Facebook Inc. (NASDAQ: FB) gained after JP Morgan boosted its price target on FB stock to $35 from $29 Elsewhere in Europe, the Pan European Stoxx 600 was gaining  2.01% Index, FTSE 100 was up 2.38%, Germany’s DAX was climbing 2.03% while Spain’s Ibex 35 jumping 1.95%
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

Tesco-style accounting risks well known in retail industryTesco-style accounting risks well known in retail industry
LONDON (Reuters) - Tesco Plc`s disclosure of huge accounting mistakes over contracts with its suppliers shocked industry analysts and executives, but not because they didn`t realise the potential fo...
Fed's Kocherlakota says low inflation gives room for stimulusFed's Kocherlakota says low inflation gives room for stimulus
(Reuters) - The U.S. Federal Reserve can keep stimulating the U.S. economy because inflation is posing little threat, Federal Reserve Bank of Minneapolis President Narayana Kocherlakota said on Tuesda...
Regulators back widening of FX fixing window to five minutes: sourcesRegulators back widening of FX fixing window to five minutes: sources
LONDON (Reuters) - Global regulators have decided to back a widening to five minutes of the 60-second window during which daily currency reference rates are fixed, as part of industry efforts to ove...
Nasdaq to administer data system behind three-hour trading haltNasdaq to administer data system behind three-hour trading halt
NEW YORK (Reuters) - Nasdaq OMX Group Inc <NDAQ.O> won a contract to administer billing and other chores for the data feed system that sparked a three-hour trading halt in Nasdaq-listed stocks...
Barclays to pay $15 million over compliance failures tied to Lehman dealBarclays to pay $15 million over compliance failures tied to Lehman deal
WASHINGTON (Reuters) - A unit of Barclays <BARC.L> will pay $15 million to settle charges alleging it failed to maintain an adequate internal compliance system after its acquisition of part of L...

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.