Stocks Around the Globe Surge on Eurozone Deal
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Equities in the U.S. and around the world are rallying following a surprise deal in the Eurozone that will allow banks to receive aid directly from the permanent bailout fund.
U.S. S&P 500 stock futures are up 16 points to 1338.70. In Europe, the FTSE is up 1.3 percent and the DAX is up 2.2 percent. In Asia, the Nikkie is up 1.5 percent and the Hang Seng is up 2.2 percent.
Leaders in the Eurozone agreed to create a single supervisory body for euro zone banks by the end of this year.
Bailout funds can be used to directly recapitalize banks and the loans to recapitalize Spain's banks wouldn't be ranked superior to those of private investors.
Yields on Spanish and Italian debt retreated on the announcement.
U.S. S&P 500 stock futures are up 16 points to 1338.70. In Europe, the FTSE is up 1.3 percent and the DAX is up 2.2 percent. In Asia, the Nikkie is up 1.5 percent and the Hang Seng is up 2.2 percent.
Leaders in the Eurozone agreed to create a single supervisory body for euro zone banks by the end of this year.
Bailout funds can be used to directly recapitalize banks and the loans to recapitalize Spain's banks wouldn't be ranked superior to those of private investors.
Yields on Spanish and Italian debt retreated on the announcement.
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