Re­port card for Europe’s banks lifts U.S. in­dexes to close week

Austin American-Statesman - - BUSINESS & PERSONAL FINANCE -

In­vestors sent stocks sharply higher on re­as­sur­ing news about Euro­pean banks. In­vestors were ini­tially cau­tious af­ter Euro­pean reg­u­la­tors an­nounced en­cour­ag­ing re­sults of “stress tests” on banks, which mea­sure how well banks will fare if govern­ment debt prob­lems and the re­gion’s econ­omy wors­ened.

Fri­day’s slew of earn­ings re­ports also helped con­vince in­vestors that the U.S. eco­nomic re­cov­ery is pro­ceed­ing. The ma­jor in­dexes had a win­ning week, re­bound­ing from the pre­vi­ous week’s loss.

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