Congress speaks, tech investors party -- like it's 2013

And what a start for 2013 as Congress' fiscal cliff resolution sends tech to big gains on the year's first day of trading.

Wall Street's first day of trading in 2013. Getty
Well, it took long enough.

But after finally clinching a (literally) last-minute deal to break a weeks-long deadlock over the so-called fiscal cliff, tech investors had a field day on the first day of trading for 2013.

The tech-heavy Nasdaq composite index closed up more than 3 percent on the day, led by the usual roster of big names with Google finishing at $723.25, up 2.24 percent and Apple gaining almost 3 percent to close at $548.07. Facebook, which for much of the spring and summer had been a neglected stock, continued its recent climb, finishing up more than 5 percent to close the day at $28.

Of course, the Nasdaq's gains reflected the 309-point increase in the stock market, which marked the Dow Jones' biggest opening-day point jump ever. One notable wall flower was LinkedIn, which finished down nearly 2 percent after a Barclay's downgrade over valuation.

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About the author

Charles Cooper was an executive editor at CNET News. He has covered technology and business for more than 25 years, working at CBSNews.com, the Associated Press, Computer & Software News, Computer Shopper, PC Week, and ZDNet.

 

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