News of Berlusconi Resignation Pushes US Stocks Higher
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US stocks have pushed to near session highs following headlines from Italy's President Giorgio Napolitano that Prime Minister Silvio Berlusconi will resign from his position upon parliamentary approval of the country's austerity bill.
With about two hours left in Tuesday's trading session, the Dow Jones is up 40 points to 12,108, the Nasdaq is up about 16 points, and the S&P 500 is up nearly 7 points to 1,268.
While concerns elsewhere in the Eurozone are far from quieted, the headlines coming out of Italy are dominating the trade. The general assumption (hope) is that a new leader might have a better chance to effectively control the debt crisis in Italy.
With about two hours left in Tuesday's trading session, the Dow Jones is up 40 points to 12,108, the Nasdaq is up about 16 points, and the S&P 500 is up nearly 7 points to 1,268.
While concerns elsewhere in the Eurozone are far from quieted, the headlines coming out of Italy are dominating the trade. The general assumption (hope) is that a new leader might have a better chance to effectively control the debt crisis in Italy.
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