After Greek Debt Deal, U.S. Futures Jump

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October 27, 2011 Print

NEW YORK — U.S. stock futures are jumping after European leaders agreed on a deal to slash Greece's debt.

Banks agreed to take 50 percent losses on the Greek bonds that they hold, and European leaders agreed to strengthen a rescue fund to protect Italy and other large European economies. Worries that a European country could default had dragged down global stocks.

Reports later Thursday will show how strongly the U.S. economy grew between July and September, as well as how many Americans joined the unemployment line last week.

Two hours ahead of the opening of trading, Dow Jones industrial average futures are up 206, or 1.7 percent, to 12,008. S&P 500 index futures are up 25.80, or 2.1 percent, to 1,263.20. Nasdaq 100 futures are up 47.50, or 2 percent, to 2,374.

Tags:Greece, debt, Europe, Associated Press

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