Share “Budget deal sends stocks shooting higher”

Budget deal sends stocks shooting higher

Published on NewsOK Modified: January 2, 2013 at 10:57 am •  Published: January 2, 2013

NEW YORK (AP) — Stocks are moving sharply higher on Wall Street after lawmakers reached a last-minute budget agreement to avert sweeping tax increases and cuts to government spending programs.

The Dow Jones industrial average was up 227 points at 13,331 shortly before midday Tuesday, the first trading day of 2013. That's a gain of 1.7 percent. The Dow had been up as much as 273 in the early going.

The Standard & Poor's 500 index rose 24 points to 1,450 and the Nasdaq composite index was up 68 points at 3,087.

Banks and technology stocks led the gains. Markets in Europe also rose broadly.

Some market watchers cautioned that the euphoria could be short-lived. The late-night deal leaves many questions unresolved, including how to make long-term cuts to the U.S. budget deficit.


  1. 1
    Google Parent Company Alphabet Drops 'Don't Be Evil' Motto
  2. 2
    Four more 'Transformers' movies are coming in the next 10 years
  3. 3
    What It's Like to Be an Interior Designer for Really, Really Rich People
  4. 4
    Will the Supreme Court Decide That Democrats Have Too Much Power?
  5. 5
    This Russell Westbrook Promo Will Get You Jacked For His 2015-16 Season
+ show more


× Trending business Article