Stock markets are reacting well to the end of the fiscal showdown in Washington. Here’s the report from David Jolly and Bettina Wassener of The New York TImes:
Global stocks kicked off the 2013 trading year with a strong start Wednesday, as investors welcomed a deal between President Obama and Congressional Republicans that ended, at least temporarily, an impasse over fiscal policy that had threatened chaos in the new year.
The broad-based Standard & Poor’s 500-stock index leapt 2.1 percent in morning trading. The Dow Jones industrial average jumped 2 percent, or about 260 points, and the Nasdaq composite index climbed 2.5 percent.