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US stocks rise on optimism about Europe

October 9, 2011

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Signs Europeans were taking steps to resolve the debt crisis helped drive stocks higher last week. The European Central Bank promised to provide loans to banks through 2013. ‘I suspect the market is warming up to the fact that we will get some sort of resolution,’ said Peter Cardillo, of Rockwell Global Capital. ‘It may not be as quick as I or the market would like.’