Stocks Rally on Europe Debt Efforts

U.S. stocks ended nearly 1% higher on Wednesday, supported by hopes that Europe was inching closer to a plan to recapitalize its banks and an agreement on a bigger, more powerful bailout plan. The Dow Jones Industrial Average ended up 102.55 points, or 0.90%, to 11,518.85. The S&P 500 gained 11.71 points, or 0.98%, to 1,207.25. The Nasdaq Composite ended up 21.70 points, or 0.84%, to 2,604.73.

Slovak lawmakers struck a deal to ratify more powers for the euro zone’s rescue fund, known as the EFSF, effectively ending a crisis that had threatened the euro’s survival and has weighed on stocks and other risky assets for months.

Employers advertised fewer jobs in August than the previous month. Companies and governments posted 3.1 million job openings in August, down from 3.2 million in July, the Labor Department said Wednesday.

Federal Reserve policymakers considered a third round of bond purchases at their last meeting, and at least two members said the weakening economy might require it, according to minutes of the meeting released Wednesday.

The Occupy Wall Street movement, which has spawned grass-roots activities around the U.S. and prompted comments from President Barack Obama, is now drawing political remarks from overseas.

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