US Stocks Jump as ECB Signals Need for Banking Union, Broad Deposit Guarantees
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Stocks have pushed sharply higher into the last hour of morning trade, potentially on the heels of comments coming out of the ECB's Financial Stability Report. Among other steps, the report suggested a need to establish a European banking union, an organization which would including sweeping deposit guarantees and industry contributions. The report also insisted aid to Spain will help ease vulnerability in euro banking.
The Dow is up 63 points since the release of the report, but is now up more than 110 points from Monday's close. The Dow Jones last traded at 12,521. The Nasdaq is up almost 24 points and the S&P 500 is up about 10 points to 1,318.
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The Dow is up 63 points since the release of the report, but is now up more than 110 points from Monday's close. The Dow Jones last traded at 12,521. The Nasdaq is up almost 24 points and the S&P 500 is up about 10 points to 1,318.
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