US stocks score solid gains


09/06/2012 06:34 AST  Business Times

Wall Street closed solidly in the black Friday as investors showed a bit more confidence ahead of a weekend that could see a rescue emerge for Spain and its ailing banks.

Stocks opened lower but heading upward on renewed hopes for progress in the eurozone debt crisis, fueled by rumours of an impending bailout of troubled Spain, the euozone's fourth-largest economy.

"It may not feel like it, in the wake of last week's disappointing jobs report and the subsequent market plunge, but the major averages posted their best week of 2012, ending with another up day," Charles Schwab.

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