The Joplin Globe, Joplin, MO

Business

June 29, 2012

World markets surge after Europe finds rescue plan

NEW YORK — U.S. stocks are closing with their second-biggest gain this year after European leaders announced a plan to rescue banks, relieve debt-burdened governments and restore investor confidence.

Stocks and commodities rallied across the globe Friday after leaders in Brussels announced the crisis-fighting measures.

The Dow Jones industrial average closed up 278 points at 12,880 on the last trading day of the second quarter. The S&P 500 closed up 33 at 1,362. The Nasdaq finished up 86 at 2,935.

U.S. stocks had a great month, but are down for the quarter because of steep losses in May. Economic data was weakening, and Spain’s banks were teetering on the brink.

About seven stocks rose for every one that fell on the New York Stock Exchange. Volume was heavy at 4.39 billion shares.

 

1
Text Only
Business
Poll

Given that the U.S. Supreme Court has ruled that electronic devices and communications are protected from searches and seizure without a warrant, do you think Missouri needs Amendment 9 added to its constitution?

A. Yes.
B. No.
     View Results
Facebook
Twitter Updates
Follow us on twitter
NDN Video
Kerry: Humanitarian Cease-fire Efforts Continue Raw: Corruption Trial Begins for Former Va Gov. The Carbon Trap: US Exports Global Warming UN Security Council Calls for Gaza Cease-fire Traditional African Dishes Teach Healthy Eating 13 Struck by Lightning on Calif. Beach Baseball Hall of Famers Inducted Israel, Hamas Trade Fire Despite Truce in Gaza Italy's Nibali Set to Win First Tour De France Raw: Shipwrecked Concordia Completes Last Voyage Raw: Sea Turtle Hatchlings Emerge From Nest Raw: Massive Dust Storm Covers Phoenix 12-hour Cease-fire in Gaza Fighting Begins Raw: Bolivian Dancers Attempt to Break Record Raw: Israel, Palestine Supporters Rally in US Raw: Air Algerie Flight 5017 Wreckage Virginia Governor Tours Tornado Aftermath Judge Faces Heat Over Offer to Help Migrant Kids Kangaroo Goes Missing in Oklahoma More M17 Bodies Return, Sanctions on Russia Grow