NEW YORK (TheStreet) — The Dow Jones Industrial Average shot past 13,000 Friday after eurozone leaders stepped up their pledges to preserve the single-currency bloc.
A day after ECB President Mario Draghi said he would do “whatever it takes” to hold the eurozone together, German Chancellor Angela Merkel and French President Franois Hollande issued a joint statement declaring their determination to do the same. In addition Bloomberg reported Draghi plans to meet with Bundesbank President Jens Weidmann in the next few days to discuss ECB bond purchases.
The risk-on euphoria was also boosted by growing chatter about the possibility of the Federal Reserve tipping its hand on additional stimulus measures at next week’s policy meeting as well as a solid round of earnings reports and domestic data. …
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Excerpt from: Dow Reclaims 13,000 on ECB Stimulus Hopes
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