Stocks Rally to Post-Election High

Business

0  Updated at 4:07 pm, December 11th, 2012 By: ABC Digital
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Hemera/Thinkstock(NEW YORK) — Stocks are in rally mode. The Dow is on track for its largest gain this month, closing up 79 points Tuesday. The index erased post-election losses, according to the Wall Street Journal, and climbed to 13,245.68. The Nasdaq gained 35.34, and the S&P added nine.
 
The Federal Reserve is expected to announce a revamped bond-buying plan this week.  The goal would be to keep downward pressure on long-term interest rates and encourage individuals and companies to borrow and spend.  It also could soften the blow from tax increases and spending cuts that will take effect in January if Congress can’t reach a budget deal.
 
Meanwhile, if you’re looking for a job, you may have better luck in the new year.  About a quarter of the respondents to a survey by employment firm “Manpower” plan to hire in the first few months of 2013.

Copyright 2012 ABC News Radio



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