Results of the European banking industry’s stress tests showed only seven of the 91 institutions that were tested failed. However, uncertainty regarding the rigorousness of the stress tests still lingers as it revealed a total capital shortfall of only 3.5 billion euros. More from Bloomberg...
The Dow Jones Industrial Average jumped 102 points (1.0%) to close at 10,425, the S&P 500 Index gained 9 points (0.8%) to finish at 1,103, and the Nasdaq Composite posted a 24 point (1.1%) increase to 2,269. Crude oil fell $0.32 to $78.98 per barrel, and the Bloomberg gold spot price decreased $7.50 to $1,187.45 per ounce.
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