U.S. stock indexes start new year in rally mode

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U.S. stock indexes start new year in rally mode
from MarketWatch.com - MarketPulse
NEW YORK (MarketWatch) -- U.S. stocks surged on Wednesday as Wall Street welcomed 2013 and the last-minute move to avoid going off the fiscal cliff of steep spending cuts and tax increases. "We are happy that we are halfway home to fixing the fiscal cliff; we figured out the revenue side and delayed the spending side," said Art Hogan, market strategist at Lazard Capital Markets LLC. The Dow Jones Industrial Average added 229.01 points, or 1.8%, to 13,333.15. The S&P 500 index climbed 28.38 points, or 2%, to 1,454.57. The Nasdaq Composite rose 79.29 points, or 2.6%, to 3,098.80.