Fri 27 Jul 2012 14:54:02 CT
The September S&P 500 traded higher throughout the session, breaking out to its best level since early May. Stocks rallied more than 2.0% on the session, supported by prospects that the ECB might pursue a more proactive role to contain the debt crisis. Equities were also supported by a round of favorable corporate earnings from Amazon and Merck. This morning's US economic data showed second quarter growth slowing at a pace that was in line with expectations. The notion that the slowdown was not as bad as some feared was viewed as a positive, and one that fueled a surge in risk-taking sentiment.
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