Economy | News-Opinion
CLOSING BELL: October 17th: DJIA: 13,557.00 | UP 5.22 | +0.04%
OIL: $92.12 UP 0.03, +0.03%
GOLD: $1,753, UP 6.70, +0.38%
GASOLINE (US Avg): $3.756, DOWN .017
Global shares rise on U.S. housing data, earnings; euro up
Global stocks rose for a third day and the euro hit a one-month high on Wednesday, helped by brighter prospects for resolving Spain’s debt woes, while better-than-expected housing data and gains among financials lifted most U.S. equities.
U.S. and German government debt prices fell after Spain avoided a damaging ratings downgrade from Moody’s and stronger-than-expected U.S. housing data pointed to an improving economy, reducing safe-haven demand.
Growing speculation that Spain will ask for a bailout next month lifted the euro. A possible line of credit to Spain and some easing of German opposition to aid for Greece and Spain were also likely to support the euro in the near term.
Read the full story at Reuters [here]
The Common Good publishes a financial market wrap-up every weekday after markets close, available here.
