Wall Street surges in wake of fiscal pact
NEW YORK (Reuters) – Stocks surged on the first trading day of 2013 after lawmakers agreed a deal to avoid massive tax hikes and spending cuts that had threatened to hurt economic growth. The gains come after stocks ended 2012 with their strongest day in more than a month, which put the S&P 500 up 13. 4 percent for the year, after a flat performance in 2011. Late on Tuesday, the House of Representatives voted for a bill that will raise taxes on wealthy individuals and families and preserve certain benefits. The vote averted immediate austerity measures, like tax hikes for almost all U. S. . . .
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