Markets Jump in U.S. and Europe on Hopeful Signs

Source: NY Times.

Stocks rose on Tuesday in Europe and on Wall Street as a drop in Spain’s borrowing costs and unexpectedly positive data from Germany eased euro zone debt worries.

Short-term financing costs for struggling Spain more than halved as banks lapped up debt at an auction, with much of the purchasing power said to have come from cut-rate loans from the European Central Bank.

On the economic front, data showed United States housing starts surged in November and permits for future construction were the highest since March 2010 as demand for rental apartments rose.

In early trading on Wall Street, the Dow Jones industrial average was up 232.31 points, or 2 percent, to 11,998.57. The Standard & Poor’s 500-stock index was up 2.1 percent and the Nasdaq composite index rose 2.2 percent.

More:

Categories: Economics

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.