Stocks Surge as Italy, Greece Allay Debt Fears

By: Associated Press
By: Associated Press

New York, NY (AP) - Stocks are surging after Italy and Greece moved
closer getting their financial crises under control. The Dow Jones
industrial average jumped back above 12,000.

Stock indexes in Europe rose broadly after Italy's Senate passed
a crucial austerity budget demanded by the European Union. That
made investors more confident Italy would avoid sinking into a
fiscal disaster that could spread throughout Europe.

Friday's gains turned the Dow and S&P 500 positive for the week.

The Dow rose 260 points Friday, or 2.2 percent, to 12,154. The
S&P 500 rose 24, or 1.9 percent, to 1,264. The Nasdaq gained 54, or
2 percent, to 2,679.

Five stocks rose for every one that fell on the New York Stock
Exchange. Volume was light at 3.3 billion shares.

(Copyright 2011 by The Associated Press. All Rights Reserved.)


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