NEW YORK, NY--(Marketwire - Jan 3, 2013) - U.S. stocks surged to end the year on optimism that a deal will be made to avoid the looming "fiscal cliff" The S&P 500 surged 1.69 percent Monday to end the year up 13.41 percent, which was its largest gain since 2009. The Paragon Report examines investing opportunities in the S&P 500 Index and provides equity research on Alcoa Inc. (
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The "fiscal cliff" is a combination of government spending cuts and tax increases set to take effect at the beginning of 2013 unless lawmakers reach a compromise on a new budget deal. President Obama in a statement said that a deal to avoid the fiscal cliff was "within sight" but not yet complete.
"This all makes me hopeful that Congress can at least defuse the ticking time bomb," said BMO Private Bank chief investment officer Jack Ablin. "Any positive news coming out of Washington is going to be taken as pretty bullish among investors who already have very low expectations. Just the fact that Congress can agree on something is worth celebration."
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Alcoa is the world's leading producer of primary and fabricated aluminum, as well as the world's largest miner of bauxite and refiner of alumina. The company last month opened a state of the art aluminum wheel facility in Suzhou, China. Shares of Alcoa have gained 5 percent in the past week.
Lockheed Martin is principally engaged in the research, design, development, manufacture, integration and sustainment of advanced technology systems, products and services. The corporation's net sales for 2011 were $46.5 billion. Lockheed Martin currently offers an annual dividend of $4.60 per share for a yield of roughly 5.0 percent.
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