Dow Jones industrial average closes 308 points higher after Congress passes budget bill
NEW YORK -- 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.
- Sketch released in murder of two Houston women
- Murder suspect vomits during graphic testimony 4 min ago
- Teen leads police on high-speed chase
- Missouri City cheers on 'Resurrection' star
- Big names, fans converge on Austin for SXSW
- Information on price tags decoded
- Naked murder suspect caught on camera punching officer
- Sandy Hook shooter's dad wishes son was never born
- Stacy Keibler marries boyfriend in Mexico 46 min ago
- Shopping for a wireless plan? Check here first
- VIP treatment for military families at RodeoHouston
- Battery dead? Use the virtual smartphone
- Counterfeit health and beauty products arrests in NY
- Peru: Van der Sloot to be extradited to US in 2038