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U.S. markets recover from steep losses
NEW YORK, Nov. 7 (UPI) -- U.S. markets rose Monday after a shaky start with political shakeups in the eurozone putting investors on edge.
During the weekend, Greek Prime Minister George Papandreou agreed to resign in return for the opposition party agreeing to support the $180 billion bailout fund assembled for the country by the European Commission, He will likely be replaced on an interim basis by former European Central Bank Vice President Lucas Papademos.
In Italy, Silvio Berlusconi's future is uncertain, with some observers expecting the beleaguered prime minister would announce his resignation soon.
On Wall Street, by close of trading, the Dow Jones industrial average added 85.15 points, 0.71 percent, to 12,068.39. The Standard & Poor's 500 index gained 7.89 points, 0.63 percent, to 1,261.12. The Nasdaq composite index rose, adding 9.10 points, 0.34 percent, to 2,695.25.
On the New York Stock Exchange, 1,608 stocks advanced and 1,390 declined on a volume of 3.3 billion shares traded.
The benchmark 10-year treasury note was unchanged, yielding yield 2.038 percent.
The euro fell to $1.3768 from Friday's $1.3792. Against the yen, the dollar fell to 78.04 yen from Friday's 78.23 yen.
In Tokyo, the Nikkei 225 index lost 0.39 percent, 34.31, to 8,767.09.
In London, the FTSE 100 index dropped 0.3 percent, 16.34, to 5,510.82.
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