Wall Street Rally Induced Meeting of the Euro Zone

NEW YORK - Wall Street Closure closed this week's rally after European leaders agreed on a plan to strengthen budget rules in restoring market confidence during the crisis that hit the region.

As quoted by Reuters on Saturday (10.12.2011), the agreement resulted in some ways to overcome the structural problems behind the euro zone debt. But investors are sure the result will be more necessary in dealing with the chaos caused by the crisis.

"Fiscal agreements will help, but it lasted not long. It will not end, that there is just a terrible solution," said Chief Executive contango Capital Advisors, George Feiger.

Earlier at the close of trading Thursday, Wall Street tumbled after the European Central Bank (EBC) dashed hopes by stating not to buy government bonds. Investors who believe the ECB is committed to eventually have to defer purchases greater than the debt in the euro zone.

The Dow Jones industrial average ended 186.56 points, or 1.55 percent, to 12184.26. The S & P 500 rose 20.84 or 1.69 percent to 1255.19, the Nasdaq Composite Index rose 50.47 points, or 1.94 percent, to 2646.85.

The stock condition of the banking sector affected by the uncertainty of Europe after the meeting was the Bank of America Corp. rose 2.3 per cent to U.S. $ 5, 27, JP Morgan Chase & Co. rose three percent menajdi USD33, 18.

In the latest data security economy of the United States (U.S.), consumer sentiment in the sector rose to its highest level in six months, which means unemployment is reduced.

Meetings in Europe failed to secure the amendment agreement among all EU member countries and investors warned the move was far from resolving the crisis. Indications are that this region could be affected by the recession and the fact there is no definite answer to how to reduce the amount of debt that was too high.

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