Reports of increased hiring and strength in manufacturing along with central banks moving to help ease Europe's financial crisis sent stock markets up sharply Wednesday. Analysts said the economy isn't on the verge of booming, but the risks of a double-dip recession have eased.
The major central banks of the world moved Wednesday to prevent a banking crisis in Europe. They're providing more liquidity to the European banking system in hopes that big banks there will remain solvent and continue to make loans. The coordinated move by the central banks sent stock markets soaring. But it will not even begin to fix Europe's fundamental economic problems.
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