Monday, November 28, 2011
Hopes for a more far-reaching solution to Europe's debt crisis and a strong start to the U.S. shopping season are sending stocks sharply higher.
Initial reports show a record number of shoppers hit the mall or bought gifts online during the holiday weekend. Thanksgiving weekend is a make-or-break time for many retailers. For the past six years, Black Friday has been the biggest sales day of the year.
Markets in Europe are also up sharply as leaders there discuss new approaches for containing the region's debt troubles, including a joint bond issue.
The Dow Jones industrial average rose 303 points, or 2.7 percent, to 11,535 at 10 a.m.. The Standard & Poor's 500 rose 35, or 3.1 percent, to 1,194. The Nasdaq composite rose 81, or 3.3 percent, to 2,523.