NEW YORK, NY--(Marketwire - Jan 2, 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 Caterpillar 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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With 2011 sales and revenues of $60.138 billion, Caterpillar is the world's leading manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and diesel-electric locomotives. The company's Board of Directors voted to maintain their quarterly cash dividend of $0.52 per share and accelerated the first-quarter 2013 dividend to December 31, 2012.
Halliburton is one of the world's largest providers of products and services to the energy industry. With more than 70,000 employees in approximately 80 countries, the company serves the upstream oil and gas industry throughout the lifecycle of the reservoir. The company is scheduled to release their fourth quarter 2012 results on January 25.
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