The US stocks kicked off the first trading day of 2013 with a sharp 2-percent rally across the board, with the S&P 500 and Nasdaqlogging their best gains since December 2011, as Wall Street celebrated the last-minute budget deal by lawmakers to avert the “fiscal cliff ” that would have pushed the economy into recession. The CBOE volatility index tumbled below 15.

Dow Jones Industrial Average rose 2.35% or 308.41 points at 13412.55. Nasdaq Composite advanced 3.07% or 92.75 points at 3112.26. Standard & Poor-s 500 gained 2.54% or 36.23 points at 1462.42.

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