“U.S. stocks rose on Wednesday, with the main indexes recovering some of the sharp losses from the previous session,” Victor Reklaitis and Barbara Kollmeyer report for MarketWatch. “Investors, however, continued to assess the risk that Italy’s latest political drama posed to global markets.”
“Global equities and other so-called risk assets are finding their footing Wednesday, as traders work out what Italy’s politicians might deliver next. Italy’s stocks and bonds, as well as the euro, are all in recovery mode,” Reklaitis and Kollmeyer report. “A coalition government led by antiestablishment parties might be in the cards again for Italy, after it looked blocked earlier in the week.”
“‘European equity markets are largely positive this morning, but political uncertainty still looms over Italy and Spain,’ said David Madden, a CMC Markets U.K. analyst, in a note,” Reklaitis and Kollmeyer report. “‘Short covering and bargain-hunting have pushed stocks higher, but as the underlying political problems are far from being fixed, the positive move might not last long.'”
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