US stocks rocket after fiscal cliff deal; Nasdaq up 3.1% | Bangkok Post: news

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US stocks rocket after fiscal cliff deal; Nasdaq up 3.1%

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US stocks took off flying on the first trading day of the new year Wednesday after Congress reached a last-minute deal to avert the fiscal cliff, avoiding forcing the economy back into recession. 

Traders work on the floor of the New York Stock Exchange (NYSE) in New York on January 2, 2013. US stocks took off flying on the first trading day of the new year Wednesday after Congress reached a last-minute deal to avert the fiscal cliff which could have sent the economy back to recession.

The S&P 500 soared 2.5 percent, its best rise since December 20, 2011, as traders shrugged off the specter that a new deficit fight between Democrats and Republicans was just weeks away to go on a buying spree.

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