【old time pottery pensacola photos】Stock Market News for January 3, 2013
Lawmakers managed to seal a last-minute deal on the Fiscal Cliff issue,old time pottery pensacola photos giving benchmarks a reason to kick off the New Year with a strong rally. The bullish sentiment helped the S&P 500 register its biggest daily gain in more than a year. Meanwhile, a couple of domestic reports were released. The ISM Manufacturing index increased in December whereas construction spending declined in November. All ten of the S&P 500 industry groups rallied and the technology sector emerged as the biggest gainer.
The Dow Jones Industrial Average (:DJI) gained 2.4% to close the day at 13,412.55. The Standard & Poor 500 (S&P 500) surged 2.5% to finish yesterday’s trading session at 1,462.42. The tech-laden Nasdaq Composite Index jumped 3.1% to end at 3,112.26.The fear-gauge CBOE Volatility Index (:VIX) plunged 18.5% to settle at 14.68. Consolidated volumes on the New York Stock Exchange, American Stock Exchange and Nasdaq were roughly 7.8 billion shares, significantly higher than the daily average of 6.42 billion shares. Advancing stocks easily outpaced decliners on the NYSE; as for 86% stocks that rose, only 13% stocks moved lower.
Benchmarks ended 2012 on a high note and carried on the momentum into the New Year as the Fiscal Cliff crisis was finally resolved. The blue-chip index posted its largest gain since December 2011. The index is only 5% behind its record high close recorded in October 2007. The bullish sentiment in markets also pushed the VIX, the market’s fear gauge to its lowest level since October 2012. Despite recent declines due to the Cliff issue benchmarks finished in the green for 2012.
Congress sealed a deal on the Fiscal Cliff issue late on Tuesday night. Despite continuing tension between Republicans and Democrats, an agreement has finally been reached. Individuals earning more than $400,000 and couples earning above $450,000 annually will have to pay higher taxes. Lawmakers increased tax rates for rich Americans but delayed spending cuts of $109 billion in military and domestic programs for two months.
President Barack Obama said: “A central promise of my campaign for president was to change the tax code that was too skewed towards the wealthy at the expense of working middle-class Americans.” “Tonight we've done that.” President Obama flew back to Hawaii to resume his holiday. According to marker experts it will not be easy going for investors in the coming two months as discussions over the debt ceiling will soon begin.
Investors have ignored a number of domestic reports in the recent days as the Fiscal Cliff issue has completely dominated proceedings. According to the Institute for Supply Management, the ISM Manufacturing index increased 1.2% to 50.7 from a November reading of 49.5. This was above consensus estimates of 50.3. According to the report, manufacturing activity has increased for the third time in seven months. In December new orders remained flat at 50.3 whereas the employment index surged 4.3% to 52.7. The production and inventories indexes were the only decliners in December.
Meanwhile, construction spending decreased for the first time in eight months in November. Construction spending decreased 0.3% to a seasonally adjusted annual rate of $866.0 billion from the revised October figure of $868.2 billion. This is contrary to consensus estimates of an increase of 0.7%. Private construction spending decreased 0.2% and was at a seasonally adjusted annual rate of $589.8 billion from the revised October figure of $590.8 billion. Public construction spending also declined in November, by 0.4% to a seasonally adjusted annual rate $276.2 billion, lower than the revised October figure of $277.4 billion.
The technology sector emerged as the biggest gainer among the S&P 500 industry groups and the Technology SPDR (
XLK
) gained 3.0%. Stocks such as Apple Inc. (NASDAQ:AAPL), Hewlett-Packard Company (NYSE:HPQ), Dell Inc. (NASDAQ:DELL), SanDisk Corporation (NASDAQ:SNDK) and Microsoft Corporation (NASDAQ:MSFT) jumped 3.2%, 5.4%, 5.3%, 2.9% and 3.4%, respectively.
Story continues
Read the analyst report on AAPL
Read the analyst report on HPQ
Read the analyst report on DELL
Read the analyst report on SNDK
Read the analyst report on MSFT
Zacks Investment Research
More From Zacks.com
Read the analyst report on AAPL,HPQ,DELL,SNDK,MSFT
View comments
(责任编辑:Exploration)
- Russia's Ozon wants dual listing in Moscow and U.S. -sources
- AT&T, Verizon CEOs reject U.S. request for 5G deployment delay
- British currency exchange WorldFirst shuts U.S. operations - FT
- BRIEF-Qingdao Hanhe Cable Says It Wins State Grid's Bids For A Combined 470 Million Yuan
- Wall Street dives 4% as virus pandemic fears intensify
- NEWSMAKER-So near yet so far for Malaysia's Anwar
- Will Nordstrom's Growth Efforts Cushion the Stock in 2019?
- Should You Be Excited About The Ensign Group, Inc.'s (NASDAQ:ENSG) 16% Return On Equity?
- Navigant Consulting Inc (NCI) Files 10-K for the Fiscal Year Ended on December 31, 2018
- Natural Gas Price Fundamental Weekly Forecast – Heating Season Begins with Hedge Funds Holding Long Positions
- Are Insiders Selling Glanbia plc (ISE:GL9) Stock?
- Earnings Preview: Macy's to report 3Q profits
- 'Sharknado 3: Oh Hell No!': The 25 greatest moments
-
Top companies covered in the space launch services market are Antrix Corporation Limited (India), Ar ...[详细]
-
How Does Totens Sparebank (OB:TOTG) Fare As A Dividend Stock?
Totens Sparebank (OB:TOTG) has pleased shareholders over the past 10 years, by paying out dividends. ...[详细] -
What Is MS Industrie AG’s (ETR:MSAG) Share Price Doing?
Want to help shape the future of investing tools? Participate in ashort research studyand receive a ...[详细] -
Stream Ideas Group Limited (HKG:8401): Time For A Financial Health Check
Stream Ideas Group Limited (HKG:8401), which has zero-debt on its balance sheet, can maximize capita ...[详细] -
Akoustis Reports Third Quarter FY20 Results
– Company to Host Investor Update Call Today at 8:00 am ET –Charlotte, N.C., May 04, 2020 (GLOBE NEW ...[详细] -
3 Hidden Costs Of Business School
The average total cost of an MBA from a top-25 B-school lands at$199,544—an increase of roughly $4,0 ...[详细] -
CBS Soars to a New 52-Week High
Shares ofCBS Corporation(CBS) recorded a new 52-week high of $55.58 yesterday, gaining momentum from ...[详细] -
Court: Motorcyclist Was 'Occupying' Motorcycle Even After Colliding With Car
Photo: ShutterstockAn appellate court in Pennsylvania has ruled that an exclusion in an auto insuran ...[详细] -
Global core material market size to record unprecedented growth through 2025
The research report on ‘global core material market’ consists of vital information such as major dev ...[详细] -
BRIEF-Sanichi Technology Posts Qtrly Net Loss 10.9 Mln RGT
March 1 (Reuters) - Sanichi Technology Bhd:* QTRLY NET LOSS 10.9 MILLION RGT; QTRLY REVENUE 4.1 MILL ...[详细]
CEO Talks: Boucheron’s Hélène Poulit-Duquesne Takes the Positive View
Should You Worry About Alexanderwerk Aktiengesellschaft's (FRA:ALX) CEO Pay?
- EMERGING MARKETS-Latam FX attempt comeback, Colombian peso eyes best day in 7 months
- Electric vehicle maker Tesla to deliver China-made Model Y SUVs this month
- Earnings Beat: GEE Group, Inc. Just Beat Analyst Forecasts, And Analysts Have Been Updating Their Models
- The First Thing You Should Do in 2019
- ROYAL DUTCH SHELL PLC THIRD QUARTER 2020 EURO AND GBP EQUIVALENT DIVIDEND PAYMENTS
- Factbox: GM taps disaster fund expert for potential recall victims' fund
- Dover Corporation (NYSE:DOV): What’s The Analyst Consensus Outlook?