Jackson Hole summit is where the Fed's Bernanke will deliver a highly anticipated speech Friday. World markets pushed stocks up, gold down in anticipation that the central banker will announce possible moves at the Jackson Hole summit.
A Christian Science perspective: The uprisings in various parts of the world point to the need for a more secure foundation for peace and progress.
Germany has blamed others for the global financial crisis, but German loans funded much of the reckless spending. It must now agree to a common mechanism for Europe to pay its way out of crises. Refusing this responsibility endangers Germany and the entire euro project.
European stocks shrug off local debt woes, while traders look forward to Bernanke speech. But European stocks are expected to remain volatile.
The general reaction in Europe is guarded optimism as rebels have moved quickly into Tripoli. The UK and France were driving forces behind the NATO intervention in Libya.
Once considered a small manageable problem, Europe's debt crisis has grown into a major international crisis. Europe will have to resolve the Greek problem that sparked the crisis.
German Chancellor Angela Merkel and French President Nicolas Sarkozy are pushing for a more economically disciplined and unified eurozone as a way to stem Europe's spiraling debt crises. But it remains to be seen just how much the two leaders can do to reverse the economic damage spreading quickly. Below, the Monitor answers key questions about the debt crisis and the trouble it spells for the eurozone.
But investors weren't impressed by the French and German leaders' commitment to greater regional integration. They wanted a bigger bailout fund for the euro, and they didn't get it.
At the close, the Dow was down about 76 points, the Nasdaq was down about 31 points, and the S&P 500 was down about 11 points
German Chancellor Angela Merkel meets with French President Nicolas Sarkozy today to coordinate a strategy for coping with Europe's expanding debt crisis.