Stocks open sharply higher on Wall Street as a last-minute budget deal avoids fiscal crunch

  • Article by: Associated Press
  • Updated: January 2, 2013 - 11:38 AM

NEW YORK - Stocks are opening sharply higher on Wall Street after lawmakers averted sweeping cuts in government spending and with a last-minute budget deal.

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sek2undrstndJan. 2, 13 9:43 AM

Someone's making money in this market and it's not the Average Joe investor. Lots of insider trading by hedge funds happening. Be ready for more of the same for the next three to five months.

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xyz123qJan. 2, 13 9:58 AM

I am confused. I have seen a majority of stock jumps in early January over the last 30 years or so. Were these all the results of fiscal cliffs? I know the only way I have made money in stock market in last 4 years is because of the Federal Reserve buying up government debt and figuring out Obama chosen winners like prescription drug companies and companies owned by Buffet.

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mjcmspJan. 2, 1310:28 AM

"Someone's making money in this market and it's not the Average Joe investor." ---- I'm an average joe and I've been making a lot of money. That being said I still know that the market is broken and is essentially now a casino where the major players (massive brokerage firms) are rigging the game. It definitely makes me nervous about the future.

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mjcmspJan. 2, 1310:34 AM

"Obama chosen winners like prescription drug companies" ----- Oh like the UNFUNDED medicare part D prescription drug plan from the Bush era? And how in part D Medicare is not allowed to negotiate drug prices with drug companies like the VA does? One of the major drivers of the deficit, along with the unfunded Bush tax cuts and unfunded wars.

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joe_mnJan. 2, 13 1:17 PM

your company is making no more product today than last week but its value went up today? is that like gas prices before a holiday? they adjust their value depending on a whim?

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xyz123qJan. 2, 13 1:19 PM

After four years, I see some commenters are still relying on the blame Bush. I am confused. I thought Obama and the liberals have been proclaiming that times are better than they were under Bush.

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bigfignewtJan. 2, 13 2:32 PM

Some taxes are still going up but NOBODY implemented ANY cuts.

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wildcountryJan. 2, 13 3:06 PM

Yippy! As long as wall street is happy.

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