NPR : News

Markets Rally After Europe Cements Debt Deal

By: Eyder Peralta // October 27, 2011
comments

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/.

Arts & Culture

NPR

Fictional 'Mothers' Reveal Facts Of A Painful Adoption Process

After years trying to conceive, novelist Jennifer Gilmore and her husband decided to adopt. What they thought would be a relatively simple process was instead a long and painful one. In her latest novel, Gilmore channels these autobiographical experiences into fiction.

Food

NPR

How Genomics Solved The Mystery Of Ireland's Great Famine

Although scientists have known that a funguslike organism caused the potato blight that triggered the Great Famine in Ireland in the 1840s, they didn't know which strain was the culprit. But they do now, thanks to the genes in some 19th century potato samples.

Politics

NPR

With White House Bogged Down By Scandal, GOP Looks For Boost

As criticism of the Obama administration over a string of scandals grows, conservatives see an opportunity to gain momentum for 2014 races. Host Neal Conan and Political Junkie Ken Rudin talk with political science professor Jack Pitney about the GOP and the re-emergence of the Tea Party. Plus: the week in politics from Anthony Weiner's New York mayoral candidacy to the Senate immigration bill.

Technology

NPR

Apple CEO Defends Tax Practices At Senate Hearing

Apple CEO Tim Cook faced tough questions on Capitol Hill on Tuesday. He defended a tax strategy that allows Apple to avoid taxes on tens of billions of dollars of profits. Cook also called on the Congress to lower the U.S. corporate tax rate.

Leave a Comment

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