Stocks are on a tear after European leaders agreed on a deal to slash Greece's debt load and prevent the debt crisis there from engulfing larger countries like Italy. Stronger U.S. economic growth and corporate earnings also drove markets higher. The Dow was up more than 300 points or 2.8 percent at nearly 12,200.
- European leaders have reached a long-hoped-for deal in response to reign in their debt crisis. They agreed to require banks take bigger losses on Greece's debts and to boost the region's bailout fund to about $1.4 trillion.
- House Speaker John Boehner says it's going to be very difficult for a deficit "supercommittee" to achieve
success but that he's continuing to push the bipartisan panel to meet its goal. Democrats and Republicans on the 12-member panel completed an initial swap of offers that revealed a wide gulf between the two parties.
- Medicare's basic monthly premium will be much lower than expected next year. The new Part B premium for outpatient care will be $99.90 a month for 2012, or about $7 less than projected as recently as May.
- Turkish pine nuts sold in bulk at Wegmans grocery stores have been linked to a salmonella outbreak that sent two people to hospitals and sickened 40 others in five East Coast states and Arizona. Wegmans says it has recalled about 5,000 pounds of pine nuts sold in bulk at stores in New York, Pennsylvania, New Jersey, Virginia and Maryland.
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