Stocks Rally After House Passes Fiscal Cliff Deal
(New York, NY) – Two days into the new year, the stock market has already seen two big rallies. The Dow Jones Industrial Average posted a second triple-digit gain in a row, rising more than 300 points, or nearly two-and-a-half percent.
The broad rally began with the opening bell, which came hours after the House approved a bill that avoids the universal tax hikes and automatic spending cuts that were part of the fiscal cliff. For every stock that fell in value today, nine others gained.
The Dow added nearly 309 points to close at 13-thousand-413. The S&P 500 added 36 points to 14-62, which was a gain of more than two-and-a-half percent. The Nasdaq added 93 points, or more than three-percent, to 31-12.
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