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June 14th, 2012
05:31 PM ET

Erin Burnett on EU economic crisis: France is next

The Dow closed up 155 points Thursday in part because of central banks are planning to infuse additional money into its systems.

CNN's Erin Burnett calls the latest news another step in a line of temporary fixes and predicts France will be the next nation at the center of Europe's economic crisis.

Tune to Erin Burnett OutFront at 7/11 p ET.

Stocks rally on hopes for central bank boost

U.S. stocks closed sharply higher Thursday as panicky investors reacted to reports that central banks are ready to provide liquidity to financial markets following Greece's crucial election on Sunday in case it becomes necessary.

The Dow Jones industrial average (INDU) jumped 155 points, or 1.2%, the S&P 500 (SPX) gained 14 points, or 1.1%, and the Nasdaq (COMP) added 18 points, or 0.6%.

"The market is jittery leading up the Greek election, and a rumor like that will definitely spark a move higher," said Joe Saluzzi, co-head of equity trading at Themis Trading.

Saluzzi warned that stocks will likely continue to swing sharply through Friday, as investors brace of Sunday's vote.

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Filed under: Economic Strike Team • Economy • News
soundoff (2 Responses)
  1. Kirk

    Erin,

    Not sure who does your research for you, but I would respectfully advise you and your staff to do your due diligence before spouting off unsubstantiated facts and information about Germany's role in the European financial crisis. For example, you stated on your show tonight that Germany is responsible for, or is at the center of, the financial problems in Europe, or words to that affect.

    I beg to differ in that it is Germany that is holding the European economy together and is the "backbone" when it comes to propping up the rest of the weaker countries. If not for Germany, the situation would be a lot worse.

    June 14, 2012 at 7:52 pm | Reply
  2. Joey at Purdue Univ

    Pretty insightful stuff... Hopefully it doesn't come to that.

    June 14, 2012 at 5:54 pm | Reply

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