Wall Street rebounds with hope seen in Europe

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New York - Major US stock indices inched upward Friday a day after plunging more than 3 per cent, rebounding on hope that governments will act to prevent another financial crisis.

US markets followed Europe's increases earlier in the day buoyed by expectations the European Central Bank would increase efforts to ease financial market tensions in the eurozone over the debt crisis in Greece.

German Finance Minister Wolfgang Schaeuble said that the now-slated changes to the European Financial Stability Facility - which the German parliament is to vote on next week - would give the bailout mechanism 'the necessary instruments to react appropriately to all developments.'

The blue-chip Dow Jones Industrial Average gained 37.65 points, or 0.35 per cent, to 10,771.48. The broader Standard & Poor's 500 Index added 6.87 points, or 0.61 per cent, to 1,136.43. The technology-heavy Nasdaq Composite Index climbed 27.56 points, or 1.12 per cent, to 2,483.23.

The US currency fell against the euro to 74.07 euro cents from 74.24 euro cents on Thursday. The dollar rose against the Japanese currency to 76.61 from 76.24 yen.

Editor:James |Source: CNTV



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