Stocks Finish Strong on Deals News
On Sunday, Egyptian government officials met with opposition leaders in an effort to end the nearly two weeks of political unrest that has ground normal operations to a halt in Cairo. By Monday, banks had reopened but the stock market remained closed.
Japan's Nikkei added 0.5% and the Hong Kong Stock Exchange fell 1.5%. London's FTSE gained 0.8% and the DAX in Frankfurt rose by 0.9%.
President Obama in a speech Monday to the Chamber of Commerce urged American businesses to begin investing and creating jobs even as the White House works to make regulations more business friendly and foster innovation.
The Federal Reserve said consumers increased their borrowing by $6.1 billion in December to a seasonally adjusted rate of $2.41 trillion, a gain of 3%. Borrowing in the credit card category rose 3.5%, the first advance since 2008. Still, overall borrowing remains 6.6% below the July 2008 peak.
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