S&P hits 1,400 on hopes for central bank action
NEW YORK (Reuters) – Stocks rose for a third day on Tuesday in light volume, pushing the S&P 500 above 1,400 for the first time since early May, on cautious optimism the European Central Bank will act soon to contain the bloc’s debt crisis. Markets continued their rise after an upswing on Friday when investors embraced ECB President Mario Draghi’s comments about restoring calm to the euro zone’s troubled bond markets. Since then, good news out of Greece and declines in Spanish and Italian yields from peaks above 7 percent have kept sentiment positive. . . .
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