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Wall St up in shadow of euro crisis

Friday, June 15 16:35:41

U.S. stocks rose today on optimism major world central banks will take coordinated action if the closely watched election in Greece this weekend results in market turmoil.

The news offset the latest round of weak U.S. economic data, which pointed to sluggish growth domestically. Officials of the Group of 20 leading industrialised nations told Reuters that central banks of major economies would take steps to stabilize markets and prevent a credit squeeze, if necessary.

That spurred sharp gains late in Thursday's session, erasing the S and P's decline for the week. The benchmark index is now up 0.9 percent on the week, even as uncertainties persist over the euro zone.

The Dow Jones industrial average was up 66.11 points, or 0.52 percent, at 12,718.02. The Standard and Poor's 500 Index was up 7.28 points, or 0.55 percent, at 1,336.38. The Nasdaq Composite Index was up 15.51 points, or 0.55 percent, at 2,851.84.