Stocks Surge On Debt Deal: ; European Compromise Alleviates Greece's Debt
Charleston Gazette › October 28, 2011
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Summary
NEW YORK - Stocks are soaring after European leaders agreed on a deal to slash Greece's debt load and prevent the debt crisis there from engulfing larger countries like Italy. Stronger U.S. economic growth and corporate earnings also drove markets higher.
The Dow Jones industrial average jumped 300 points at midday. All 30 stocks in the Dow rose, led by aluminum maker Alcoa Inc. with a 7 percent gain. Commodities prices and Treasury yields also rose as investors took on more risk. The euro rose sharply against the dollar.See the full content of this document
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Stocks Surge On Debt Deal: ; European Compromise Alleviates Greece's Debt
Europe's sweeping agreement, reached after an all-night summit meeting, is aimed at preventing the Greek government's inability to pay its debt from escalating into another financial crisi...
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