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Getco Securities traders Philip Finale, left, and its floor official Peter Giacchi, right, work on the floor of the New York Stock Exchange on Wednesday, June 6, 2012. A 200-point charge Wednesday turned the Dow Jones industrial average positive for theyear following a dismal stretch in May (AP Photo/Bebeto Matthews)

Dow Soars 308 After Fiscal Cliff Averted



New York, NY (AP/WBEN) Stocks roared higher on Wall Street and around the world after Congress passed a last-minute budget deal to avert sweeping tax hikes and government spending cuts.

The Dow Jones industrial jumped 308 points to close at 13,412 Wednesday, the first trading day of the year. That's the biggest gain the Dow has had since December 2011.

The Standard & Poor's 500 index rose 36 points to 1,462. The Nasdaq composite rose almost 93 points to 3,112.

The gains were broad. Ten stocks rose for every one that fell on the New York Stock Exchange.

Technology and bank stocks had the biggest gains.

Car-sharing company Zipcar surged 48 percent after agreeing to be bought by Avis for nearly $500 million.

Volume was heavier than the recent average at 4.1 billion shares.

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Locations : New York
01/02/2013 4:14PM
Dow Soars 308 After Fiscal Cliff Averted
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