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Wall Street soars 3 percent as Europe deal cheered

From reuters.com

Stocks surged 3 percent on Thursday as an agreement by European leaders to help contain the region's two-year debt crisis lifted a cloud hovering over markets. Optimism that a deal would be struck to prevent widespread financial distress fueled the market's rebound in October. The S&P 500 is up more than 13 percent this month, on pace for its biggest monthly gain since October 1974. But some traders said implementing the agreement will present major challenges, observing that the devil is in the details. After more than eight hours of talks, European heads of state, the International Monetary Fund and bankers ... (full story)

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