Summary Box: Stocks higher on Europe hopes

AP News
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Posted: Oct 12, 2011 5:07 PM
Summary Box: Stocks higher on Europe hopes

BARROSO SOOTHES: Signs that Europe would act more decisively to address its financial crisis pushed stocks higher. European Commission President Jose-Manuel Barroso presented a plan to strengthen European banks and lower Greece's debt.

S&P SURGE: The S&P 500 has risen 9.8 percent since last Tuesday, its biggest 7-day jump since March 2009. Before that, the index had fallen 20 percent from its April peak. Had it closed at that level it would have entered what is technically considered a bear market.

EARNINGS DUD: Alcoa Inc. dropped 2.4 percent after the aluminum maker reported earnings that were weaker than analysts expected.