The late-hour fiscal cliff deal, even with all the chaos and unanswered questions, was still enough to send stocks soaring, the first trading day of the new year. The Dow average reached its highest level since Dec. 2011. Technology and bank stocks rose the most. Government bond prices fell as investors pulled money out of safe-harbor investments. But despite the euphoria, many investors cautioned that it can’t last long. The deal merely postpones the country’s budget reckoning, they said, rather than averting it. Also giving US markets a lift Wednesday was a rise in manufacturing in December and an increase in factory hiring.
‘Cliff’ deal sends stocks up, but problems lurk
By CHRISTINA REXRODE| AP Business Writer January 03, 2013
Read it all, now.
Don't miss any of your favorite stories again. Read the stories that matter to you as much as you want, whenever you want when you subscribe to BostonGlobe.com.
Get full access today for just 99¢