Wall Street rises as central banks stand ready [Reuters]
June 14, 2012 Leave a comment
(Reuters) – U.S. stocks jumped on Thursday after news major central banks are preparing coordinated action if the results of Greek elections this weekend generate turmoil in financial markets.
The central banks from major economies will take steps to stabilize markets and prevent a credit squeeze, Group of 20 officials told Reuters.
The news late in the trading day invigorated a market that has been highly volatile this week, whip-sawed by concerns the ballot in Greece on Sunday may set the stage for the country’s exit from the euro zone.