U.S. stocks rise on hopes for stimulus
NEW YORK (MarketWatch) — U.S. stocks rallied Tuesday on speculation that central bankers could make further moves to stimulate the global economy and as Wall Street continued to closely monitor events in Europe.
The major stock indexes had erased much of an early advance as Spain’s 10-year bond yield hit a record high after Fitch Ratings downgraded some of the country’s banks. But both Spanish and Italian bond prices bounced off their lows heading toward the European markets’ close.
Daily event risk from politicians and central banks in either direction “is paralyzing and dizzying,” Peter Boockvar, equity strategist at Miller Tabak, said in emailed remarks. http://www.marketwatch.com/story/us-stocks-co...2012-06-12