Stock futures rise on euro hopes, holiday optimism

Nov 29 2011 - 8:23am

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(RICHARD DREW/The Associated Press) John P. Surma, right, Chairman and CEO of US Steel, talks with specialist Sean O’Brien as he visits the post that trades his company’s stock after ringing the closing bell of the New York Stock Exchange Monday, Nov. 28, 2011. A strong start to the U.S. shopping season and new hope for a far-reaching solution to Europe’s debt crisis sent stocks sharply higher.
(RICHARD DREW/The Associated Press) John P. Surma, right, Chairman and CEO of US Steel, talks with specialist Sean O’Brien as he visits the post that trades his company’s stock after ringing the closing bell of the New York Stock Exchange Monday, Nov. 28, 2011. A strong start to the U.S. shopping season and new hope for a far-reaching solution to Europe’s debt crisis sent stocks sharply higher.

NEW YORK -- Wall Street is poised for further gains amid ongoing evidence of a strong start to the U.S. holiday shopping season and hopes for a plan to deal with the European debt crisis.

Dow futures are up 0.5 percent at 11,555. The broader Standard & Poor's 500 futures is up 0.6 percent at 1,198.

Markets overseas were boosted again on Tuesday by hopes that the 17 countries that use the euro will finally come up with a plan to deal with their crushing debt crisis.

Italy's borrowing rates shot up Tuesday to above 7 percent, an unsustainable level on a par with rates that forced the others to seek bailouts.

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