Markets Rally After Europe Cements Debt Deal | WAMU 88.5 - American University Radio

NPR : News

Markets Rally After Europe Cements Debt Deal

With European debt deal worked out, world markets rallied. The U.S. markets' rally managed to get them into positive territory for the year.

Here's how The New York Times frames the story:

While the deal helped to restore confidence to the financial markets, analysts noted that questions remained about how it would be implemented. They also worried that fully fixing the problems of excessive debt and weak growth could take years.

Still, after days of anticipation, the markets put whatever uncertainties remained behind them, at least for now. Financial stocks in particular were up more than 6 percent.

The Dow Jones finished the day up 2.86 percent and the Standard & Poor's was up 3.43 percent.

"More time has been bought," Hank Herrmann, chief executive of Waddell & Reed Financial, told the Wall Street Journal. "This doesn't look like they're just kicking the can down the road. It is more serious than things in the past."

The Journal points out that good news about U.S. economy also buoyed investors' spirits. As Mark reported earlier, the country's GDP grew at 2.5 percent rate in the third quarter. "The gain was somewhat less than the 2.7 percent growth economists expected but high enough to keep investors' mood upbeat," wrote the Journal.

Copyright 2011 National Public Radio. To see more, visit http://www.npr.org/.

NPR

Advice For Trevor Noah From The 'Jon Stewart Of South Africa'

The Daily Show isn't the only fake news show around. South Africa has Late Nite News, starring comedian Loyiso Gola. We asked him how he feels about Noah's new job — and what advice he has to offer.
NPR

The Revival Of Lamb Ham: A Colonial Tradition Renewed

British colonialists brought lamb ham to America, where a sugar-cured, smoked variety became popular. Easier-to-cure pork ham eventually took its place, but now two Virginians are bringing it back.
NPR

Analysts Divided Over Obama's Diplomatic Gamble On Iran

Even before he won the White House in 2008, President Obama discussed redefining the U.S. relationship with Iran.
NPR

If Drones Make You Nervous, Think Of Them As Flying Donkeys

In Africa, where there aren't always roads from Point A to Point B, drones could take critical medicines to remote spots. But the airborne vehicles make people uneasy for lots of reasons.

Leave a Comment

Help keep the conversation civil. Please refer to our Terms of Use and Code of Conduct before posting your comments.