US STOCKS SNAPSHOT-Wall St rallies to kick off 2013 after 'cliff' deal

NEW YORK Wed Jan 2, 2013 9:13pm GMT

NEW YORK Jan 2 (Reuters) - U.S. stocks kicked off the new year with their best day in over a year on Wednesday, sparked by relief over a last-minute deal in Washington to avert the "fiscal cliff" of tax hikes and spending cuts that threatened to derail economic growth.

The Dow Jones industrial average gained 308.41 points, or 2.35 percent, to end unofficially at 13,412.71. The Standard & Poor's 500 Index jumped 36.23 points, or 2.54 percent, to 1,462.42. The Nasdaq Composite Index rose 92.75 points, or 3.07 percent, to close unofficially at 3,112.26.


After wave of QE, onus shifts to leaders to boost economy

DAVOS, Switzerland - Central banks have done their best to rescue the world economy by printing money and politicians must now act fast to enact structural reforms and pro-investment policies to boost growth, central bankers said on Saturday.