Stocks climb after EU pledges support for Greece
February 11th, 2010 admin
Stocks advanced as European leaders issued a pledge to help Greece with its growing debt crisis.
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Stocks struggled to move higher Monday morning, with the Dow industrials topping 11,000, as investors welcomed European leaders’ efforts to help ease Greece’s debt problems.
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Stocks rallied Tuesday afternoon as growing bets that European officials will rescue Greece from its debt problems reassured investors following a four-week selloff.
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Stocks soared Tuesday, recovering from the previous session’s selloff, as investors grew optimistic that a recovery package for debt-burdened Greece may be close.
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Stocks managed gains Monday, with the Dow industrials closing above 11,000 for the first time in 18 months, after European leaders made loans available to Greece, tempering fears that the nation might have to default on its debt.
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U.S. stocks were poised to open lower Thursday amid renewed fears over Greece’s debt crisis and as investors digested key readings on inflation and employment.
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European Central Bank President Jean-Claude Trichet speaks with Wall Street Journal Global Economics Editor David Wessel about the financial crisis in Greece and the future of global financial reform.
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So far, the euro zone has been able to largely shake off the effects of Greece’s fiscal crisis. For all the trouble in Greece and, to lesser extent Portugal, those two countries account for less than 5% of the region’s GDP.
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Europe’s debt troubles could damage Asia’s economies in a very basic way: depressed demand for exports. Most analysts this week have downplayed Asia’s exposure to debt problems in Greece and its southern European neighbors. And the European Union deal announced Thursday to backstop Greece could stave off the worst. On the surface,...
Stocks fell Wednesday on renewed concerns about Greece’s debt crisis and after a slide in oil prices hurt energy shares.
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Stocks fell Wednesday on renewed concerns about European debt problems and weakness in the housing market.
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