NOW ITALY?: Italy's borrowing rates spiked to the highest level since the country adopted the euro, causing worries that it could become the next to be get pulled into Europe's financial upheaval.
PROGRESS IN GREECE: In Brussels, finance officials said the next installment of emergency loans for Greece would be released as long as both parties in the country's new power-sharing government commit to implementing economic reforms.
THE DOW: The Dow Jones industrial average closed at 12,068, up 85. The Dow closed near its highest point of the day and had been down as many as 102 shortly after midday. It closed above 12,000 only one day last week, Thursday.