'Fiscal cliff' deal sends stocks soaring
NEW YORK – Stocks are moving sharply higher on Wall Street after lawmakers reached a last-minute budget agreement to avert sweeping tax increases and cuts to government spending programs.
The Dow Jones industrial average was up 227 points at 13,331 shortly before midday Tuesday, the first trading day of 2013. That's a gain of 1.7 percent. The Dow had been up as much as 273 in the early going.
The Standard & Poor's 500 index rose 24 points to 1,450 and the Nasdaq composite index was up 68 points at 3,087.
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