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Stocks Rise After Better Housing, Jobless Reports

Stocks started 2013 with a rally after lawmakers came up with a last-minute plan to stop the U.S. going over the "fiscal cliff," a series of tax hikes and spending cuts that economists say would probably have pushed the U.S. into recession.

The yield on the 10-year Treasury note, which moves inversely to its price, rose three basis points to 1.87 percent.

Other stocks making big moves:

â¿¿ EBay rose $1.48 to $54.38 after reporting fourth-quarter earnings that exceeded analysts' expectations. Bargain-hunting holiday shoppers flocked to eBay's online shopping mall and digital payment service.

â¿¿ CBS surged $3.83 to $41.77 after the media company said late Wednesday that it was converting its U.S. outdoor advertising business to a real estate investment trust and selling the international portion of the business.

â¿¿ BlackRock gained $9.94 to $232.18 after the investment manager said its fourth-quarter net income surged, beating analysts' forecasts. The company also increased its dividend.

Copyright 2011 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
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