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Stock Futures Soar on 'Fiscal Cliff' Deal

The benchmark 10-year Treasury was sliding by 25/32, pushing the yield up to 1.847%. The dollar was down 0.33%, according to the U.S. dollar index .

Overseas markets were sharply higher on the fiscal cliff deal. The FTSE 100 in London was gaining 2.26%, while the DAX in Germany was tacking on 2.11%. Hong Kong's Hang Seng closed ahead by 2.89%.

The Japanese market was closed and scheduled to reopen on Friday.

In corporate news, Avis (CAR - Get Report) announced that it is acquiring Zipcar (ZIP) for about $500 million, or $12.25 a share in cash, a 49% premium over Zipcar's closing price on Dec. 31.

Zipcar shares were surging by more than 47.5%.

Live Nation Entertainment's (LYV) Irving Azoff plans to resign as chairman of the concert promoter and will sell 1.7 million Live Nation shares to Liberty Media (LMCA) .

High seas and strong winds prevented crews from boarding a Royal Dutch Shell (RDS.A) drilling ship to check for any damage after the large vessel went aground off an uninhabited island in the Gulf of Alaska, The Associated Press reported.

Shares were flat.

Intel's (INTC) effort to develop an Internet-based TV service and associated hardware is taking longer than expected, people familiar with the company's plans told The Wall Street Journal, in part due to delays in reaching content agreements with media companies.

Hewlett-Packard (HPQ) is evaluating the sale of businesses that don't meet goals more than a year after CEO Meg Whitman said she didn't plan to spin off the PC division, according to a Bloomberg report.

Shares were advancing by nearly 3%.

Facebook (FB - Get Report) shares were gaining nearly 3%, lifted by positive analyst sentiment.

Apple (AAPL - Get Report) shares were popping more than 3% as investors anticipate a big rally this year for tech giant.

-- Written by Andrea Tse in New York.



>To contact the writer of this article, click here: Andrea Tse.

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CAR $55.79 0.00%
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