Investors overcame lingering concerns over debt problems in the euro zone as well as worries over tensions between North and South Korea to push stocks sharply higher before the Thanksgiving holiday.
That was despite lingering concerns over debt problems in the euro zone, especially in Ireland, as well as worries over tensions between North and South Korea.
The GDP data and news that Brussels backed IMF concerns over debt sustainability came as a boost for the Greek prime minister, Alexis Tsipras.
Moody's cut Spain's rating to A1 from Aa2, citing concerns over debt levels in the Spanish banks and corporations, as well as broader concerns about weakening growth among countries that share the euro.
Shares took a beating for reasons that included fears of an economic slowdown and fiscal problems in the United States as well as continuing concerns over debt issues in Europe.
A poll in The IoS today reveals that concerns over debt are already having an impact, with two out of three young people saying that they know someone who will be put off going to university by the imminent increase in tuition fees to a maximum of £9,000 a year.
The Glazer family bought United in 2005, but have been unpopular with fans because of concerns over debt levels, and have struggled to match their rivals spending power. .
In reducing the rating on Omnicom's senior unsecured debt, to Baa1 from A3, Moody's cited concern over increasing debt, the state of the general advertising market and the uncertainty over a war with Iraq and its effect on the global economy.
Stockmarkets had another rocky week amid more concern over sovereign debt in Europe.
Even with concern over swelling debt burdens hanging over financial markets, the prognosis for the American economy has turned increasingly bright.
