US Stocks Bounce Back In Spite Of Lingering European Troubles
Thursday, November 10, 2011 at 4:44PMBy Scarlette Whyte
Markets
Stocks made a slight come back after plummeting yesterday. Jobless claims may have fueled the market rebound but traders remained cautious as the European debt crisis lingers on. The Dow gained 112 points Thursday afternoon after sinking 389 points yesterday. The S&P 500-stock index rose 10 points led by energy and industrial stocks. The technology-oriented Nasdaq Composite climbed five points.
Business
Oil drilling contractor, Nabor Industrial is in hot water. The SEC launched an investigation into the perks that executives receive. Nabor’s top execs were using the company jet for personal travel. The Wall Street Journal estimate the flights cost approximately $ 704,000. Nabor will pay its chairman $100 million to relinquish his CEO title.
European Debt Crisis
Former European Central Bank Vice President Lucas Papademos was named the next prime minister of Greece.
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