Stocks Resume Rally As European Debt Worries Ease

wall street ap frank franklin ii e1283969125741 Stocks Resume Rally As European Debt Worries Ease

(AP Photo/Frank Franklin II, file)

Stocks are rising as investors brush off fresh worries about the health of European banks to resume a rally.

Strong demand at an auction for Portugal’s debt early Wednesday is helping relieve some concerns that resurfaced this week about the health of Europe’s banking industry.

Worries about how European government debt might drag down a global recovery halted a four-day winning streak Tuesday.

A report due out Wednesday afternoon from the Federal Reserve could provide further insight into the pace of the domestic recovery.

The Dow Jones industrial average is up 74, or 0.7 percent, at 10,415. The S&P 500 is up 9, or 0.9 percent, at 1,101, while the Nasdaq composite is up 24, or 1.1 percent, at 2,233.

(Copyright 2010 by The Associated Press.  All Rights Reserved.)

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