'Cliff' deal talk, Apple lift US stocks at year-end

US markets closed out the year Monday with a sharp jump on news that Congress was close to a deal to avert the fiscal cliff -- but also on a 4.4 percent gain by market giant Apple.

The Dow Jones Industrial Average finished up 166.03 points (1.28 percent) at 13,104.14.

The broad-market S&P 500 gained 23.79 (1.69 percent) at 1,426.19, while the tech-rich Nasdaq Composite surged 59.20 points (2.00 percent) to 3,019.51.

The gains reversed losses of the previous week when cliff worries were strong, and left the main indices with respectable gains for the year: 7.3 percent for the Dow, 13.4 percent for the S&P 500, and 15.9 percent for the Nasdaq.

With a midnight deadline looming to avert the sharp tax hikes and spending cuts aimed at slashing the fiscal deficit -- but which could force a recession -- the White House and congressional leaders said a deal was nigh that would mitigate the worst effects.

Nothing was certain: while the Senate was expected to pass the compromise legislation after it is finalized, possibly before the midnight Monday deadline, in the Republican-controlled House of Representatives, where resistance could be tougher, the vote would not be before Tuesday.

But the markets pushed higher in expectation that the immediate threat of more than $400 billion in tax increases would mostly be avoided.

"A compromise over taxes and spending would be an important step that supports economic growth in the year ahead," said Gary Thayer, strategist at Wells Fargo Advisors.

Major shares were nearly all in the green, led by Apple's surge.

The world's most valuable company by market capitalization -- an even $500 billion at the end of trade Monday -- was a major driver of the markets ruing the year. Even though its price at Monday's close, $532.17, was well below the year's high of $705.07, Apple shares still racked up a 25.8 percent gain for 2012.

Other major gainers on Monday included ExxonMobil, up 1.8 percent; General Electric (2.6 percent); and Caterpillar (2.8 percent).

Bond prices fell. The 10-year US Treasury yield rose to 1.76 percent from 1.71 percent Friday, while the 30-year moved to 2.95 percent from 2.88 percent. Bond prices and yields move inversely.

--

Get stories like this on the Yahoo app and discover more every day.
Download it now.
Loading...
  • BOJ's new policy framework to strengthen monetary policy - Japan Abe Reuters - 13 minutes ago

    TOKYO (Reuters) - Japanese Prime Minister Shinzo Abe said on Tuesday that the Bank of Japan's new policy framework was intended to strengthen monetary policy and achieve its 2 percent inflation target ... … More »

  • Structural reforms need to accompany ultra-easy policy - BOJ Nakaso Reuters - 17 minutes ago

    TOKYO (Reuters) - The Bank of Japan has taken steps to push down real interest rates but structural reforms are also needed to boost the economy's growth potential, the central bank's deputy governor Hiroshi ... … More »

  • Riskier currencies jump as Clinton gets nod in debate AFP - 23 minutes ago

    The yen dropped and higher-risk currencies surged Tuesday as markets appeared to give Hillary Clinton the edge over Donald Trump in the first US presidential debate. Investors had moved into assets seen ... … More »

  • What is SIBOR and SOR?
    What is SIBOR and SOR? feed_manager_auto_publish_494--autopubtest_WPTUMBLR_485 - 25 minutes ago

    Paul HO (iCompareLoan.com) … More »

  • MOGSEC offers good platform for O&G firms to showcase products, services Business Times - 29 minutes ago

    KUALA LUMPUR: Since it was first held in 2012, the Malaysian Oil and Gas Services Exhibition and Conference (MOGSEC) has become a prominent showcase for the local oil and gas (O&G) industry. Jointly organised by Malaysian Oil and Gas Services … More »

  • UK industry group slashes oil estimate as price drop hits investment Reuters - 33 minutes ago

    Industry group UK Oil and Gas has slashed its estimate of Britain's existing oil and gas reserves by a third, saying weak oil prices have made it less likely that some resources will ever be retrieved. Oil prices are lingering near lows last seen … More »

  • Oil dips in Asia as Algiers meeting looms AFP - 36 minutes ago

    Oil prices edged down in Asia Tuesday amid continued speculation over whether producers will agree to limit output at talks in Algeria this week, analysts said. Members of the Organization of the Petroleum ... … More »

  • Hong Kong Stocks Climb After One-Day Selloff as Casinos Advance Bloomberg - 55 minutes ago

    The Hang Seng Index climbed 1.1 percent at the midday break, rising along with U.S. stock-index futures and the Mexican peso. Industrial & Commercial Bank of China Ltd. paced gains by lenders. Hong Kong’s benchmark equity index has outperformed … More »

  • Malaysia's closing tin prices for Sept 27 Reuters - 1 hour 2 minutes ago

    KUALA LUMPUR, Sept 27 (Reuters) - Following is a table of Kuala Lumpur tin market prices provided by a Malaysian trader. (Prices in $/tonne, and volumes in tonnes unless stated) Date KL Premium/ Spot Bid ... … More »

  • Oil prices slip on profit-taking as investors await U.S. stockpile data
    Oil prices slip on profit-taking as investors await U.S. stockpile data Reuters - 1 hour 8 minutes ago

    Crude futures slipped in Asian trade on Tuesday as investors took profits after prices climbed more than 3 percent in the previous session. The dollar was also weighing on oil prices after rising against a basket of currencies, suggesting markets … More »

  • Asia stocks bounce, yen ebbs amid U.S. presidential debate
    Asia stocks bounce, yen ebbs amid U.S. presidential debate Reuters - 1 hour 13 minutes ago

    Asian shares recouped early losses on Tuesday and the dollar edged away from a one-month trough against the yen, suggesting investors judged Democrat Hillary Clinton was winning her debate against Republican Donald Trump. Markets have tended to see … More »

  • Asian stocks mixed as traders follow US debate
    Asian stocks mixed as traders follow US debate Associated Press - 1 hour 17 minutes ago

    Asian stock markets were mixed Tuesday as traders followed the U.S. presidential debate between candidates Hillary Clinton and Donald Trump. KEEPING SCORE: Hong Kong's Hang Seng index advanced 0.4 percent ... … More »

  • Not Too Big To Fail: 5 Blue Chip Companies That Have Fallen From Grace DollarsAndSense.sg - 1 hour 19 minutes ago

    In light of the recent fiasco with Swiber Holdings, we review 4 other firms as a reminder that blue chip firms are not infallible The post Not Too Big To Fail: 5 Blue Chip Companies That Have Fallen From Grace appeared first on DollarsAndSense.sg. … More »

  • Asian Stocks Reverse Losses After U.S. Presidential Debate Bloomberg - 1 hour 26 minutes ago

    (Bloomberg) -- Asian stocks advanced, erasing losses as U.S. futures rose, with investors viewing Democratic candidate Hillary Clinton as having gotten the upper hand in the first U.S. presidential debate that pitted her against Republican hopeful … More »

  • Maersk May Target Hanjin, Hyundai in New Acquisition Plan (2) Bloomberg - 1 hour 27 minutes ago

    Hanjin Shipping Co. last month filed for bankruptcy protection and Hyundai Merchant Marine Co. is in the middle of a creditor-led debt-restructuring program. Both are in need of a strong partner and Maersk Line, the world’s biggest, is probably the … More »

  • Asian markets cautious amid first presidential debate
    Asian markets cautious amid first presidential debate AFP News - 1 hour 30 minutes ago

    Asian markets fluctuated Tuesday as all eyes turned to the first presidential debate between battling US presidential candidates Donald Trump and Hillary Clinton. The two White House hopefuls, in a virtual dead heat in polls with barely six weeks … More »

  • AP Top Extended Financial Headlines at 11:33 p.m. EDT Associated Press - 1 hour 46 minutes ago

    Need a loan for a diamond ring or used car or wrench set … More »

  • BRIEF-United Malacca reports monthly production data Reuters - 1 hour 48 minutes ago

    Sept 27 (Reuters) - United Malacca Bhd : * Aug fresh fruit bunches 29,036 tonnes; Aug crude palm oil 5,989 tonnes; Aug palm kernel 1,392 tonnes Source text : ( http://bit.ly/2dflunz ) Further company coverage:... … More »

  • China August industrial profits rise nearly 20 percent, fastest in three years
    China August industrial profits rise nearly 20 percent, fastest in three years Reuters - 1 hour 57 minutes ago

    Profits earned by China's industrial firms in August grew at the fastest pace in three years helped by rising sales, higher prices and lower costs, pointing to strengthening economic activity. The world's second-largest economy has shown recent … More »

  • Gold slips as equities, dollar gain after US presidential debate
    Gold slips as equities, dollar gain after US presidential debate Reuters - 1 hour 58 minutes ago

    Gold edged lower on Tuesday as equity markets bounced back and the U.S. dollar strengthened, hinting that investors viewed Democrat Hillary Clinton as the winner of her first U.S. presidential debate with Republican Donald Trump. Spot gold was … More »

  • China’s Shibor Climbs to Seven-Week High as PBOC Withdraws Funds Bloomberg - 2 hours 10 minutes ago

    The one-month Shanghai Interbank Offered Rate climbed to 2.74 percent, the highest since Aug. 4, according to the National Interbank Funding Center. The People’s Bank of China has in the past month started to use 14- and 28-day reverse-repurchase … More »

  • KWAP crosses out Airbnb potential Business Times - 2 hours 18 minutes ago

    RETIREMENT Fund Inc (KWAP) has crossed off Airbnb, an online marketplace for property rental, as its second potential investment in a global digital company after pumping in US$30 million (RM123.8 million) in Uber Technologies Inc.  “We did look at … More »

  • UEM Edgenta to buy UEMS for RM563m Business Times - 2 hours 18 minutes ago

    KUALA LUMPUR: UEM Edgenta Bhdis buying UEMS Pte Ltd for RM563 million to strengthen its healthcare services operations. UEMS is an established market leader, providing facilities management services to the healthcare sector. It serves more than 60 … More »

  • Good governance, leadership play key roles Business Times - 2 hours 19 minutes ago

    MALAYSIA needs to keep its growth momentum going through good stewardship in terms of governance and leadership in order to further progress, said Khazanah Nasional Bhd managing director Tan Sri Azman Mokhtar. … More »

  • 'Khazanah firms to drive growth' Business Times - 2 hours 19 minutes ago

    KUALA LUMPUR: Khazanah Nasional Bhd expects the continuation of a pro-growth and pro-society focus in the 2017 Budget, with its companies remaining the nation’s growth engines. Khazanah managing director Tan Sri Azman Mokhtar said at the same … More »

 
Recent Quotes
Symbol Price Change % Chg 
Your most recently viewed tickers will automatically show up here if you type a ticker in the "Enter symbol/company" at the bottom of this module.
You need to enable your browser cookies to view your most recent quotes.
 
Sign-in to view quotes in your portfolios.

MARKET MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    0.139+0.001+0.72%
    N21.SI
    0.107+0.004+3.88%
    43E.SI
    3.97+0.01+0.25%
    Z74.SI
    0.75+0.01+1.35%
    BS6.SI
    0.154+0.002+1.32%
    AFC.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    1.48+0.16+12.12%
    S91.SI
    0.245+0.025+11.36%
    K14.SI
    0.60+0.05+9.09%
    AZA.SI
    1.365+0.085+6.64%
    BVP.SI
    0.53+0.03+6.00%
    BFK.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    0.56-0.18-24.32%
    5VJ.SI
    0.151-0.039-20.53%
    BGO.SI
    0.41-0.06-11.83%
    K1Q.SI
    0.15-0.02-11.76%
    5PL.SI
    0.10-0.01-9.09%
    5DL.SI

Market Data

  • Currencies
    Currencies
    NamePriceChange% Chg
    1.3590-0.0012-0.09%
    USDSGD=X
    1.5281-0.0022-0.14%
    EURSGD=X
    1.7634+0.0006+0.03%
    GBPSGD=X
    74.0850+0.361+0.49%
    SGDJPY=X
    5.7035+0.0042+0.07%
    SGDHKD=X
    3.0264-0.0078-0.26%
    SGDMYR=X
    9,506.9785-71.8438-0.75%
    SGDIDR=X
    4.9061+0.0043+0.09%
    SGDCNY=X
    1.0412+0.0026+0.25%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,339.10-5.00-0.37%
    GCZ16.CMX
    19.54-0.06-0.29%
    SIZ16.CMX
    94.45-1.31-1.37%
    ^XAU
    2.18-0.01-0.61%
    HGZ16.CMX
    43.85+0.41+0.94%
    CLV16.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.13-0.03
    ^FVX
    1.59-0.03
    ^TNX
    2.33-0.01
    ^TYX