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Friday
Oct282011

Stocks Rally in October, But Is Optimism over Europe Short-Lived?

Comstock/Thinkstock(NEW  YORK) -- October could be the best single-month rally for stocks in 25 years.

The Dow Jones index is up nearly 12 percent this month. Averages surged about 3 percent Thursday in response to the debt deal in Europe and somewhat stronger U.S. 3rd quarter economic growth.

Many economists are warning the positive reaction to Europe’s attempt to tame the sovereign debt crisis could be short lived.

The fine print on the agreement to boost the bailout fund and rescue Greece from a messy debt default is highly complex.

At their meeting, Eurozone leaders gave few details of exactly how the plan will work. This morning, Italy paid record yields to sell a new batch of 10-year bonds.

Copyright 2011 ABC News Radio







ABC News Radio