Wednesday, January 2, 2013

Stocks rally on relief from 'fiscal cliff'

Stocks rally on relief from 'fiscal cliff': "Investors breathed a sigh of relief and pushed stocks sharply higher Wednesday after lawmakers agreed late Tuesday on a deal to avert the 'fiscal cliff' of tax increases and spending cuts.

At one point, the Dow Jones industrial average was up more than 270 points.

Without a deal, automatic spending cuts and tax hikes would have gone into effect, threatening the economy.

The deal doesn't end the battle between lawmakers, as Republicans have vowed to revisit more aggressive spending cuts as the need to boost the country's $16.4 tillion debt ceiling looms in February."

'via Blog this'

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