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

DirecTV quarterly revenue rises 5 percentDirecTV quarterly revenue rises 5 percent
(Reuters) - DirecTV, the No.1 U.S. satellite TV provider, reported a 5.3 percent rise in second-quarter revenue, helped by price increases and fewer subscriber disconnections. Net income attributabl...
Soccer World Cup helps DirecTV net more subscribersSoccer World Cup helps DirecTV net more subscribers
(Reuters) - DirecTV <DTV.O>, the No.1 U.S. satellite TV provider, reported quarterly revenue above analysts` estimates as the soccer World Cup helped it add subscribers in Latin America and pric...
U.S. jobless claims up, wage growth starting to push higherU.S. jobless claims up, wage growth starting to push higher
WASHINGTON (Reuters) - The number of Americans filing new claims for unemployment benefits rose last week, but the underlying trend pointed to a continuing strengthening of labor market conditions. ...
U.S. jobless claims up, but four-week average hits eight-year lowU.S. jobless claims up, but four-week average hits eight-year low
WASHINGTON (Reuters) - The number of Americans filing new claims for unemployment benefits rose last week, but the underlying trend pointed to a continuing strengthening of labor market conditions. ...
World investors load up on stocks, Europe leads way: Reuters pollWorld investors load up on stocks, Europe leads way: Reuters poll
LONDON (Reuters) - Global investors bought more stocks in July than at any point in more than two years, spearheaded by a push into Europe and growing confidence in the continent`s economic recovery...

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.