BC-Business News Digest
Business News at 5:30 p.m.
The supervisor is Richard Jacobsen (800-845-8450, ext. 1680). For photos, ext. 1900. For graphics and interactives, ext. 7636. Expanded AP content can be obtained from http://www.apexchange.com. For access to AP Exchange and other technical issues, contact customersupport(at)ap.org or call 877-836-9477.
If you have questions about transmission of financial market listings, please call 800-3AP-STOX.
A selection of top photos can be found at http://bit.ly/APTopPhotos.New this digest: --Adds: BROKEN BUDGETS-MUNICIPAL PENSIONS; BROKEN BUDGETS-MUNICIPAL PENSIONS-GLANCE; WENDY'S-VALUE MENU --Updates: WALL STREET TOP STORIES WALL STREET NEW YORK â¿¿ The fiscal cliff compromise, for all its chaos, controversy and unresolved questions, was enough to send the stock market shooting higher, the first trading day of the new year. The Dow Jones industrial average careened more than 300 points higher, its biggest gain since December 2011, just 5 percent below its record high close reached in October 2007. The Russell 2000, an index that tracks smaller companies, shot up to the highest close in its history. By Christina Rexrode. AP photos FISCAL CLIFF-TAX IMPACT WASHINGTON â¿¿ While the tax package that Congress passed New Year's Day will protect 99 percent of Americans from an income tax increase, most of them will still end up paying more federal taxes in 2013. That's because the legislation did nothing to prevent a temporary reduction in the Social Security payroll tax from expiring. In 2012, that 2-percentage-point cut in the payroll tax was worth about $1,000 to a worker making $50,000 a year. By Stephen Ohlemacher. With: â¿¿ FISCAL CLIFF-TAX IMPACT-GLANCE â¿¿ How tax increases will affect households at different income levels. â¿¿ FISCAL CLIFF â¿¿ Congress approves a deal that averts a prolonged tumble off the fiscal cliff, but lays the groundwork for future battles between Republicans and Democrats over federal spending and debt.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV