This surge of 284 points is simply a knee-jerk reaction to China's commitment of Euro but I believe investors will sell into the rally and cause the Dow to fall next week again unless EU is able to stabilize the euro which I think will be difficult.
Spain has just approved a cut of over euro $20b on top of the euro $50b cut earlier in its austerity programme. French is also starting to tackle its deficit and Italy has just cut $24b of spendings.
Therefore, austerity programme equates to anti-growth measure which will definitely slow down the growth in EU.
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