Read as much as you want on BostonGlobe.com, anywhere and anytime, for just 99¢.

‘Cliff’ deal sends stocks up, but problems lurk

Continue reading below

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.

Loading comments...
Subscriber Log In

You have reached the limit of 5 free articles in a month

Stay informed with unlimited access to Boston’s trusted news source.

  • High-quality journalism from the region’s largest newsroom
  • Convenient access across all of your devices
  • Today’s Headlines daily newsletter
  • Subscriber-only access to exclusive offers, events, contests, eBooks, and more
  • Less than 25¢ a week
Marketing image of BostonGlobe.com
Marketing image of BostonGlobe.com