Fiscal Cliff Closed: Futures Indicating Higher on Wall Street After Closing the Deal
NEW YORK, January 2, 2013 /PRNewswire/ --
Wall Street can embrace closure when its headlines have been hogging the news, and it looks like that's the case today. We have seen President Obama follow through on his vow to raise taxes on the wealthy. Couples making more than $450,000 a year in the United States are now considered rich. Those lucky people will see their tax rate rise to 39.6%.
World Moto (OTC: FARE) had a strong couple of days' trading going into the New Year after being higher by over 10% on an increased $4 million in trading. This was much higher volume on FARE than we saw earlier last week. The last few days' trading have bought total volume of around $15 million and the stock has been higher three days running. The surprising thing here is that it has come on some of the lightest volume days of the year.
AMR Corp (OTC: AAMRQ) was back in the news yesterday after trading over $2 million in volume on the day. AAMRQ closed flat after trading higher earlier in the session. The stock has been sitting around the 0.80 cent mark for a while now after testing the $1.00 mark earlier in December.
Amarantus Biosciences (OTC: AMBS) is another stock that's had an impressive run back over the last few trading sessions. The volume has been increasing in shares of AMBS and the stock has doubled in price over the last week. The volume in yesterday's trading was $1.7 million with the stock up 22%.
USA Graphite (OTC: USGT) has been receiving a lot of attention in the OTC markets over the last week and traded over $1.7 million in trading on Tuesday whilst being higher by 3%.
The Gap (NYSE: GPS) has been trading heavily recently after becoming the company of the year featured on Yahoo Finance. The retail stocks have been in the headlines recently with a worse than expected holiday season. Some analysts are reporting that certain companies like The Gap could have performed better than most, and could be taken a look at for longer term investments. Shares of Gap were higher by 2% on almost 5 million shares on the close yesterday.
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