Fiscal Cliff Optimism Lifts Markets To Higher Close

By: MarketMinute.com Market Updates

Encouraging signs that a fiscal cliff deal may be possible lifted the markets to a sharply higher close with the Dow soaring 100 points to 13,235. Nasdaq surged 39 points to 3010.
On the upside
Shares of Hovnanian Enterprises (NYSE: HOV) continued rising after the homebuilder reported a narrower than expected loss for the fourth quarter last week.
Natixix upgraded Alcatel-Lucent (NYSE: ALU) to a Buy rating and Evercore initiated coverage of the company with an Overweight rating.
Bargain hunters lifted shares of Quiksilver (NYSE: ZQK).
On the downside
Neptune Technologies & Bioressources (NYSE: NEPT) subsidiary Acasti Pharma reported positive interim results from two Phase II clinical trials of its hypertriglyceridemia treatment CaPre but the stock price tumbled. Power to three Silvercorp Metal (NYSE: SVM) mines in the Ying Mining District, Henan Province, China will be suspended for four to five days due to substation upgrades.
Shares of outdoor gear retailer Cabela's (NYSE: CAB) fell over concerns of stricter gun control laws in the aftermath of the Sandy Hook tragedy.
In the broad market, advancing issues outpaced decliners by a margin of more than 2 to 1 on the NYSE and by nearly 7 to 3 on Nasdaq. The broader S&P 500 index climbed 16 points to 1430.

Stock Market XML and JSON Data API provided by FinancialContent Services, Inc.
Nasdaq quotes delayed at least 15 minutes, all others at least 20 minutes.
Markets are closed on certain holidays. Stock Market Holiday List
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.
Press Release Service provided by PRConnect.
Stock quotes supplied by Telekurs USA
Postage Rates