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How the major stock indexes fared Wednesday

A default by Greece Would shock global lending markets and freeze to Other European Countries Heavily Indebted.

The Dow Jones Industrial Average rose 72.73 points, or 0.6 percent, to close at 12,261.42.

The Standard & Poor's 500 index rose 10.74, or 0.8 percent, to 1,307.41.

The Nasdaq composite rose 11.18, or 0.4 percent, to 2,740.49.

For the week:

The Dow is up 326.84, or 2.7 percent.

The S & P is up 38 guaranteed payday loan.96, or 3.1 percent.

The Nasdaq is up 87.60, or 3.3 percent.

For the year to date:

The Dow is up 683.91, or 5.9 percent.

The S & P is up 49.77, or 4.0 percent.

The Nasdaq is up 87.62 points, or 3.3 percent.

How the major stock indexes fared Wednesday

Strong earnings lift from Nike Broad stock rally

NEW YORK - Maybe the Global Economy Is not in bad shape Such After All.

After weeks of worries about the economy Pulled down stocks, indexes sharply Have Risen for Two days in a row.

The Dow Jones industrial average rose 120 points More than in midday trading Tuesday, thanks to signs in hand That of a Global Slowdown Concerns May Be overblown. Quarterly results from Nike Inc.. bested Analysts' expectations helped spark a rally in stocks of clothing stores, jewelers and restaurants. Such companies tend to do well When Consumers are less worried about high gas prices like Things and are Willing to Spend on Themselves.

Other industries do well That DURING Periods of Economic Development led the stock market even higher. Caterpillar Inc., One of the 30 stocks make up the Dow That, Gained the most, rising 2.3 percent. Industrials Gained 1.2 percent overall.Consumer discretionary companies Gained 1.6 percent.

Signs That the housing market helped lift IS Improving Home Depot Inc., A company That Benefits When Consumers Spend money on home improvement. Home Depot Gained 1.2 percent a report FOLLOWING That Home Price rose in April in 13 of the 20 cities tracked by the Standard & Poor's / Case-Shiller index. The index rose for the first time in eight months thanks to push-to-year Annual buy homes in the spring.

The long slump in the housing market has-been a drag on the U.S. Economic Recovery. Usually Housing leads the economy out of recessions. Goal That Has not Been the box with the current recovery, Which Began in June 2009.

A decline in U easy payday loans.S. consumer confidence to a seven-month low, Largely Because of worries about jobs, Did not slow down the gains in stocks.

The Dow Gained 121 points, or 1 percent, to 12,164 in afternoon trading. The Standard & Poor's 500 index rose 14, or 1.1 percent, to 1.294.The Nasdaq composite index added 34, or 1.3 percent, to 2.722.

Signs That May Be the Greece making progress in STI debt crisis Markets Boosted aussi. Greek lawmakers are debating austerity Measures That Must Be Passed to secure the next installment of emergency loans from international lenders. French banks on Thursday Agreed to accept repayment on Slower Greek Debts, Avoiding Another key step in a Greek debt default.

Among U.S. companies, Accenture rose 3.5 percent S & P After Announced That the Company Would Be Added to STC S & P 500 index. And tobacco company Altria Group 2 percent Fell After the Food and Drug Administration Announced It Is Reviewing research determines to The Public Health Impact of menthol cigarettes.

Government Bond Prices Fell investors have put a great value on riskier assets like stocks. The yield on the benchmark 10-year Treasury rose to 3.3 percent from 2.93 percent Monday. Bond yield rise When Prices Fall.Bond Yields Fell to Their Lowest Level of the Year last week due to Greece's debt Concerns That Would Problems spread to Other European Countries.

Strong earnings lift from Nike Broad stock rally

California governor, Democrats reach budget deal

SAN FRANCISCO (Reuters) - California Governor Jerry Brown and Democratic leaders of the state Senate and Assembly said on Monday THEY HAD That Reached a Budget That deal closed a $ 10 Roughly one billion shortfall.

Republicans have-nots joined in The Proposal, Said Brown, a Democrat, added Who Would Seriously Consider That ET has ballot initiative to extend tax hikes for SEVERAL years and address a "wall of debt" facing California.

HAD Brown vetoed the first budget by Democrats Earlier this month, Saying It included "legally questionable maneuvers, borrowing Costly Savings and unrealistic."

The leaders in a news conference Immediately Did not outline the elements of the plan for the fiscal year Which starts on Friday easy payday loans.

Brown Pushed Through $ 12 one billion in cuts and Other Measures early this year and HAD hoped to extend tax hikes to Avoid Dramatic cuts more.That ET on Thursday emphasized tax revenue coming in far WAS ahead of expectations.

(Reporting by Jim Christie and Peter Henderson, Editing by Philip Barbara)

California governor, Democrats reach budget deal

Hot News: Europe Needs strong challenge IMF leader: U.S.

Obama Criticize Romney Economic policies in Utah

SALT LAKE CITY - Republican presidential hopeful Mitt Romney IS criticizing President Barack Obama's Economic Policies have campaign stops in ET Makes His one-time home state of Utah.

Romney stopped at a Locally owned drive-in hamburger restaurant for a public appearance Friday Before a pair of private, $ 1,000-per-plate fundraisers in Salt Lake City and Orem.

Romney Said the Obama administration and Borrowed HAS Spent too much. He Also Said Obama instituted the greatest takeover of states' rights with the Health Care and the first thing overhaul he'd do if Elected IS Repeal it no faxing payday loans.

Romney IS history making second bid for the GOP nomination.

He's Currently Considered the front-runner in a primary field That includes Minnesota Gov. train. Tim Pawlenty, House Speaker Newt Gingrich train, Minnesota Rep. Michele Bachman and Utah Gov. train.Jon Huntsman.

Obama Criticize Romney Economic policies in Utah

Hot News: Greek opposition leader target star at EU summit

Summary Box: G-20 AIMS to Stabilize Food Prices

FOOD PRICES: A group of the Largest Economies In The World Have Agreed on Measures Aimed at Stabilizing Food Prices in the wake of recent fluctuations That Caused global instability, Especially in Poorer Nations.

AGREEMENT: The G-20 summit of Agriculture Ministers Agreed to ESTABLISH a transparent system to track global supplies and set up emergency food reserves, Among Other initiatives.

DOUBTERS: Non-Government Organization working on food issues criticized the agreement, Saying It Does not address biofuels, Which take up Land That Could Be Used To grow food, and Does not focus on building up Enough emergency stocks online payday loans.

Summary Box: G-20 AIMS to Stabilize Food Prices

Oil Prices Slide Before U.S. rate call, energy data

LONDON (AFP) - Oil Prices Fell on Wednesday ahead of a Federal Reserve interest rate decision and Economic Assessment, an update on energy ALONGSIDE Inventories in the United States, the world's top crude consumer.

Brent North Sea crude for August shed 35 cents to $ 110.60 a barrel in midday London deals.

New York's main contract, West Texas Intermediate (WTI) light sweet crude for August delivery, lost 72 cents to $ 93.45 a barrel. The July contract expired on Tuesday HAD.

The Fed Will announce the outcome of STI two-day Monetary Policy meeting at 1815 GMT on Wednesday, and publish updated Estimates on U.S. Economic Growth, Unemployment and inflation.

"Today's Focus Will Be on the Federal Reserve's meeting," Said Commerzbank analyst Carsten Fritsch commodities.

"The Likely Downward revision of the assessment of the economy weigh on Could oil prices.However, as the ultra-Loose Monetary Policy Be Maintained Will Probably, the negative impact on Oil Prices Should Be Limited.Therefor we do not expect Price to drop from under the $ 110-a-barrel mark. "

Fed Policymakers are meeting Amid Signs of Weakness in the world 's biggest economy are clouding prospects for That Withdrawal from a massive stimulus financière That the U.S no fax payday advance. central bank HAS Provided Since 2008 the Financial meltdown.

Ahead of the Fed announcements and a rare press conference by Federal Reserve chairman Ben Bernanke, the U.S. government's Department of Energy Will publish icts energy Inventories report at 1430 GMT.

Meanwhile, the oil market failed to draw strength from news That Greek Prime Minister George Papandreou's government Survived a confidence vote on Wednesday.

The administration has confidence vote Carried-through parliament to Pursue Reforms needed to unlock critical new vital assistance from ITS International Creditors.

Most Analysts predict That the real fight in Athens Will Come When The austerity Measures face a vote by lawmakers by the end of the month.

"This outcome HAD Been Expected Therefor and Did not come as a surprise," Said analyst Fritsch.

"Furthermore, the more decisive vote IS yet to come when (Greek) austerity Measures are put to parliament on 28 June."

In recent days and weeks, the Greek-eurozone debt crisis HAD Prompted deep concern That It Could Spark lower energy demand from Europe.

Oil Prices Slide Before U.S. rate call, energy data

Eurozone current bailout boosts fund

LUXEMBOURG - European Finance Ministers Have raised Their Guarantees for the current rescue fund to allow it to lend out a total of euro440 billion ($ 626 billion), up from about one billion Currently euro250.

The European Financial Stability Guarantee Facility Needs to More than icts lending capacity to get a good credit rating and make the bonds attractive to investors from it.

The Ministers Hope that the move, Which WAS Decided in Principle in March, Will make the 17-nation eurozone more resilient to the fallout of the crisis in Greece and exacerbating help ringfence Other Struggling economies.

THIS IS A BREAKING NEWS UPDATE. Check back soon for Further information.AP's story IS Earlier below.

LUXEMBOURG (AP) - European Finance Ministers Have made an important change to Their future rescue fund, Which Will help hope THEY bailed out Countries Already renewed access to Debt Markets cash advance now.

Jean-Claude Juncker, the Who chairs meetings of eurozone finance Ministers, the European Stability Said Monday Mechanism, Which Will Come Into Force in mid-2013, Will not Have preferred creditor status When It Helps Countries That Have Already Been bailed out.

Having preferred status means clustering the fund repaid Before Any Would Be Private Creditors. That HAD harshly criticized by beens Many economists, Who Said It Would Deter Other banks and investment funds from lending money to Already Struggling Any Countries.

Eurozone current bailout boosts fund

Greek PM Asks for support to avoid "catastrophic" default

ATHENS (Reuters) - Greek Prime Minister George Papandreou on Sunday appealed to parliament to support a new cabinet to push through painful Appointed Economic Reforms, a debt default Saying Would Be Catastrophic.

Papandreou Asked parliament to pass a vote of Confidence in a reshuffled Cabinet Appointed ET on Friday to push through a five-year package of new tax hikes and cuts Spending Agreed with international lenders low fee payday loans.

The prime minister, Whose Own Political Survival Is On the over-the-line package, Said the country at a critical crossroads WAS and Its Problems Could not be solved by rejecting international help.

Greek PM Asks for support to avoid "catastrophic" default

Instant View: Moody's May says cut Italy's credit rating

NEW YORK (Reuters) - Moody's Investors Service on Friday May Said it cut Italy's sovereign credit rating from AA2, Citing challenges ahead for economic growth due to structural and Weaknesses A Likely rise in interest rates.

COMMENTS:

Cary Leahey, ECONOMIST AND MANAGING DIRECTOR, DECISION ECONOMICS, NEW YORK

"You are seeing a bit of the domino effect. A number of European Countries, now Including Italy, are Considered suspect by the ratings agency. It's a game of dominoes That You Could extend to Belgium and, Perhaps, to Spain. Goal Italy Would Be the Largest country, at least at the moment, Deemed suspect in the eyes of the rating agency. "

DAN DORROW, HEAD OF RESEARCH, TRADING FAROS, STAMFORD, CONNECTICUT:

"This neighborhood or Mediterranean Reflect Effect That Is going on right now.The state of California HAS Greater Problems and It Is Hard to See Why Italy Is the focus.

Certainly Italy Is in a challenging situation, nothing really changed order to warrant this announcement have not growth HAS Turned Down Significantly.

"This is Clearly Precautionary. If There Is a credit event in Greece Clearly Probably Could it reach Spain, Italy, Portugal and Belgium.

"Moody's WAS behind the curve with the subprime mortgage debacle and They Are Trying to relay to the market What Could Happen. Having Said That. We are confident this summer Things That Will hold together and There Will not Be a credit event type."

PIAZZA PERRY, DIRECTOR OF INVESTMENT STRATEGIES, Contango Capital Advisors, SAN FRANCISCO

"The rating Agencies are in a little catch-up mode here in order to Protect Themselves Because Everything is going down to the 11th hour.If There Is a problem with the situation in Greece, There Is definitely a contagion issue Because Some of the European banks Have exposure to Greek debt. There Is a lot of cross-bank exposure. It Could slow European growth Payday Loan for Bad Credit.

"What is priced into the Market Is A lot of bad news. The inclination right now IS to sell first and ask questions Later, stocks and the euro goal Have Held up pretty well."

DAVID KELLY, CHIEF MARKET STRATEGIST, JP MORGAN FUNDS, NEW YORK

"The rating Agencies Throughout The European debt crisis Have Played a role not too helpful. Unfortunately, the news flow of European downgrades Will Increase the volatility only the Markets.

"Greece Is In The Most Financial trouble in Europe. Other countries Clearing Italy Including Clearly Have budget issues. This shows That Europe can not hand wash icts of the Greece situation.It must isolate the problem with Greece and help to deal with Other countries Their tax issues.

"The big picture Is That There continued to Be an overhang of negative news and the European Economic debt situation."

GREG Salvaggio, SENIOR VICE PRESIDENT, TEMPUS CONSULTING, WASHINGTON:

"The Moody's news on Italy Reinforce the ECB's concern about the prospect of contagion. And contagion Should not Happen. As a result, I think There's a going to Be a package put together over the weekend, Which is going to Effectively offer Greece Another has lifeline.No one, however, IS going to deal with the issue and (They Will) Simply kick the can down the road. "

Michael Woolfolk, SENIOR CURRENCY STRATEGIST AT BNY MELLON IN NEW YORK

"This Can not Be a positive for the euro with market players Already Concerned about the Potential contagion effect That the Greek debt crisis Could have."

MARKET REACTION: STOCKS: S & P 500 Briefly turns negative. BONDS: U.S. Bond Prices barrier slight losses. FOREX: The euro versus the dollar trims gains.

Instant View: Moody's May says cut Italy's credit rating

Apartments home construction fuel Increase in May

WASHINGTON - Builders broke ground one more new homes in May, aims MOST Of The Gains Were In The volatile apartment Sector.

The Commerce Department says new-home construction rose 5.3 percent from April to a seasonally Adjusted Annual Rate of 560.000 units per year.

Economists Say the pace of construction IS far below-the 1.2 million new homes per year That Must Be Built to sustain a healthy housing market. Many credit-strapped builders are Struggling to Compete With comparatively cheap foreclosures bad credit payday advance.

Housing Permits, a gauge of future construction, rose 7.8 percent last month, To The Highest Level Since December.

Fewer new homes mean Fewer jobs.Each home built Create an average of Three jobs for a year and Generates about $ 90,000 in taxes, According To The National Association of Home Builders.

Apartments home construction fuel Increase in May

Hot News: Oil Falls as Dollar Strengthens Against Currencies