Dow tops 12000 as bull market resumes
The Dow Jones industrial average closes above 12,000 for the first time in two and a half years, advancing 148 points to 12040.16 on Tuesday. The S&P 500 rises above 1300, aided by strong earnings and a brighter manufacturing outlook, signaling renewed investor interest after heavy fund outflows since 2008.
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States weigh bankruptcy option as debt pressures grow
Proposals arise after years of pension and retiree health costs pushing states toward fiscal stress. Analysts warn bankruptcy could force debt write downs but risk long court battles, investor panic, and higher borrowing costs. States' access to capital hinges on ratings and bond demand amid talk of court sanctioned debt relief.
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