Wall Street rallies after 11th-hour budget deal to 13,412.55

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Wall Street rallies after 11th-hour budget deal to 13,412.55
from MarketWatch.com - MarketPulse
NEW YORK (MarketWatch) -- U.S. stocks blasted higher on Wednesday, with the Dow Jones Industrial Average scoring its biggest first-session-of-the-year-point gain ever, as Wall Street welcomed an 11th-hour deal to avoid steep spending cuts and tax increases. "We are happy that we are halfway home to fixing the fiscal cliff," said Art Hogan, market strategist at Lazard Capital Markets. The Dow Jones Industrial Average rose 308.41 points, or 2.4%, to 13,412.55. The S&P 500 index advanced 36.06 points, or 2.5%, to 1,462.25. The Nasdaq Composite rallied 92.75 points, or 3.1%, to 3,112.26.