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US, European stock market indices up

11 February 2010 07:50 (UTC +04:00)

Baku-APA-Economics. US and European markets all rose Wednesday. Markets have dropped in recent weeks over concerns that debt problems in Greece, Spain and Portugal would spread and upend a global economic recovery. A bailout for Greece raises hopes that European officials will take additional steps to contain debt worries in other countries.

Ahead of the opening bell, Dow Jones industrial average futures rose 7, or 0.1 percent, to 10,011. Standard & Poor’s 500 index futures rose 0.30, or less than 0.1 percent, to 1,066.50, while Nasdaq 100 index futures rose 1.75, or 0.1 percent, to 1,753.75.
Separately, the government said the trade deficit surged to a larger-than-expected $40.18 billion in December as a rebounding economy pushed up demand for imports. For the entire year, the deficit totaled $380.66 billion, the Commerce Department report. That’s the smallest imbalance in eight years. However as the economy continues to recover and demand for goods grows, it is expected to continue to grow.

Stocks rallied sharply Tuesday. The Dow jumped 1.5 percent, its biggest percentage gain since early November. Both the S&P 500 and Nasdaq composite indexes rose more than 1 percent.
Britain’s FTSE 100 rose 0.7 percent, Germany’s DAX index gained 0.9 percent, and France’s CAC-40 climbed 1 percent.