MARKET PULSE-Biofuel, Las Vegas Sands, Molycorp, Synergy
Jan 2 (Reuters) - Some U.S. stocks on the move on Wednesday:
WALL ST STARTS 2013 WITH A RALLY ON 'CLIFF' AGREEMENT
U.S. stocks soared on the first day of trading in 2013, after Washington lawmakers cut a last-minute deal to avoid automatic tax hikes that threatened to pinch economic growth. The Dow Jones industrial average was up 1.66 percent, the Standard & Poor's 500 Index up 1.65 percent, and the Nasdaq Composite Index up 2.17 percent. Wednesday marked the best day for the Nasdaq since June 30.
** BIOFUEL ENERGY CORP, $4.52, up 23 pct (1025 ET)
** CLEANTECH SOLUTIONS INTERNATIONAL INC, $4.30, up 8.3 pct (1026 ET)
As a part of the legislation to avoid the fiscal cliff, Congress extended a $1.01 a gallon credit for making biofuels from cellulose, found in woody plants, trees and grasses. Fuel produced from algae was made eligible for the credit as well. Continued...