The Joplin Globe, Joplin, MO

Business

July 10, 2012

US stocks open higher as Europe acts on Spain

NEW YORK — Stocks are opening higher after European leaders accelerated a plan to shore up Spain’s troubled banks.

The Dow Jones industrial average rose 77 points to 12,814 shortly after the start of trading Tuesday. The Standard & Poor’s 500 rose 8 points to 1,360. The Nasdaq rose 18 points to 2,950.

European finance ministers agreed early Tuesday on the terms of a bailout for Spain, saying that the first $37 billion in aid can be ready by the end of the month. Unemployment in Spain is nearing 25 percent.

Spain’s benchmark borrowing rate fell and its stock market surged following the news. Spain is the largest European country to date to seek international assistance.

 

1
Text Only
Business
Poll

Would you use a community safe room when the area is under a tornado warning?

Yes.
No.
     View Results
Facebook
Twitter Updates
Follow us on twitter
NDN Video
Obama Hopeful on Ukraine, Will Watch Russians Flamingo Frenzy Ahead of Zoo Construction Crew Criticized Over Handling of Ferry Disaster Agreement Reached to Calm Ukraine Tensions Raw: Pope Francis Performs Pre-easter Ritual Raw: Bulgarian Monastery Dyes 5000 Easter Eggs Diplomats Reach Deal to Ease Tensions in Ukraine U.S. Sending Nonlethal Aid to Ukraine Military Holder: Americans Stand With KC Mourners Obama Greets Wounded Warriors Malaysia Plane: Ocean Floor Images 'Very Clear' Sparks Fly With Derulo and Jordin on New Album Franco Leads Star-studded Broadway Cast Raw: Two Lucky Kids Get Ride in Popemobile Boston Bombing Survivors One Year Later Sister of Slain MIT Officer Reflects on Bombing