MARKET ROUNDUP (Source Bloomberg)
U.S. Stocks Have Best Week in 13 Months After Budget Deal; as lawmakers passed a bill averting spending cuts and tax increases known as the fiscal cliff. The S&P 500 rose 4.6 percent to 1,466.47, the highest level since December 2007. The benchmark gauge had the best three-day start of a year since 2009. The Dow Jones Industrial Average added 497.10 points, or 3.8 percent, to 13,435.21. Both measures posted the best weekly increase since December 2011. The Russell 2000 Index of small companies and the S&P Midcap 400 Index reached all-time highs after jumping 5.7 percent and 5.2 percent, respectively.
Oil Fluctuates After Biggest Weekly Gain in Almost Four Months; amid signs of economic growth in the U.S., the world’s largest crude- consuming nation. Crude for February delivery was at $93.07 a barrel, down 2 cents, in electronic trading on the New York Mercantile Exchange at 10:48 a.m. Sydney time. The contract rose 17 cents to $93.09 on Jan. 4, the highest settlement since Jan. 2. Prices slid 7.1 percent last year. West Texas Intermediate futures swung between gains and losses after advancing 2.5 percent last week, the most since Sept. 14. U.S. employers added 155,000 workers in December, exceeding the 152,000 median forecast in a Bloomberg survey, Labor Department data showed Jan. 4. WTI oil may rise this week on speculation that stronger economic growth will boost fuel demand, a separate Bloomberg News survey showed.
Jupiter Securities Research - 07 January 2013
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