Congress: Stock Indexes

Congress Dept: All the major U.S. stock indexes jumped by at least 2 per cent, and the Dow Jones industrial average saw its biggest surge in six months. Related Items Articles Stock markets move higher as traders gain confidence from fiscal cliff deal, according to Winnipeg Free Press. The deal that squeezed through a sharply divided Congress just hours before most financial markets reopened from the New Year's holiday keeps income taxes from rising on the middle class and the poor, but it puts off major decisions on more than $100 billion in defence and domestic spending cuts and wASHINGTON - A last-minute deal in Congress to avoid the economy-shaking "fiscal cliff" sent world stocks climbing Wednesday but doesn't solve the problem of the massive U.S. deficit, meaning other battles on deep spending cuts and the federal debt limit loom in the coming weeks and months. A smiling President Barack Obama said he would sign the law "that raises taxes on the wealthiest 2 per cent of Americans while preventing tax hikes that could have sent the economy back into recession." Then he left for Hawaii to resume his holiday break. (www.immigrantscanada.com). As reported in the news.