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Morning Business Outlook: 1/2

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  • Description

    Best last day in history for the Dow

  • Duration 1:31
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Good morning it was the best last day of the year in history for the -- a 166.

Points on Monday and out more than 7% in 2012 investors are back to work today after the New Year's holiday.

And after a fiscal -- deal was reached -- stock market bracing for another big bounce today the good news may stop there.

Just because lawmakers agree to not raise taxes on 99% of Americans don't think your taxes aren't going up congress did not stop the two year payroll tax cut from expiring.

And so all Americans will see their Social Security taxes bounce back this year.

To six point 2% from four point 2% and that increase means a 1000 dollar tax increase on -- 50000 dollar salary.

And even bigger fiscal cliff than the one we just averted is on the horizon in a matter of months the government.

May be unable to pay its bills at the sixteen point four trillion dollar debt ceiling is not raised.

That potential debt default will no doubt sends the US economy back into recession.

Many people make New Year's resolutions to save money that may be hard in 2013.

You can expect to pay more for some cars gadgets and electronics.

Food may cost up to 4% more health care premiums -- jump -- average 6%.

And copper -- rise after a move by the SEC to approve a fund to trade it.

Copper -- used in everything from tea kettle Stockholm water pipes.

To equipment used to brew beer and that's business on this first trading day of the new year -- -- -- on foxbusiness.com.

In New York -- warrants in in --

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