CAPITAL MARKETS

US stocks jump on fiscal cliff deal

STOCKS on Wall Street jumped on Monday after the US Senate reached a last-minute agreement to avoid over $US600 billion in automatic tax increases and spending cuts.

Kristie Batten

Under the deal, tax rates on millionaires and billionaires will be raised, resulting in an extra $620 billion in revenue. “This agreement will also grow the economy and shrink our deficits in a balanced...

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