What's the economic outlook like for 2013? Plus, stocks rallied on news that the fiscal cliff had been averted. Here's the Wednesday Bloomberg After The Bell Report from the New York Stock Exchange.
American Stock Exchange
2377.96 up 22.30
3112.26 up 92.75
Standard And Poors 500
1462.42 up 36.23
Expect the economy to expand this year. Manufacturing picked up in December reflecting growth in orders, employment and exports, plus a rebound in housing, all positive signs for our economy.
Green arrows across the board as markets rallied with the Dow closing over 300 points higher, this after lawmakers finally passed a bill that prevented us from going over the fiscal cliff.
The IRS is reviewing the tax legislation passed by Congress and said it will make a decision soon about when taxpayers can start filing 2012 returns. The filing season, which was scheduled to start this month, had been in question because a lot of the provisions affecting 2012 tax returns had not been addressed.
Meantime, AOL co-founder Steve Case and his Revolution Fund for start-ups will get about $96 million in the sale of Zipcar to Avis. Case invested in car-sharing in the mid-2000s when the business model was still untested.
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