NEW YORK (AP) — For the past six weeks, Wall Street traders have optimistically pushed the Dow Jones industrial average up nearly 4.8 percent on a belief that the U.S. economic recovery is finally gaining momentum.
On Monday, that cheerfulness will be put to the test as investors balance good news at home with lingering fears over the stability of Europe.
After three days of rioting, the Greek parliament Sunday approved a new set of austerity measures that were likely to cause much pain for its already-struggling citizens. The measures clear the way for the nation to reduce its debt and gain another bailout from the other European nations and the International Monetary Fund.
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