Wall Street jumps after Spain sets timetable for reforms
NEW YORK (Reuters) – U. S. stocks rallied on Thursday and the S&P 500 was set to break its five-day decline after Spain unveiled plans for economic reform, easing some worries about how the euro zone’s debt crisis will be contained. The broad-based rally put the benchmark S&P 500 index on track for its biggest percentage gain since the Federal Reserve announced its plan for a third round of stimulus on September 13. Spain announced a detailed timetable for economic reforms for the fiscally troubled nation and a tough 2013 budget based mostly on spending cuts. . . .
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