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Tuesday Evening Business Brief

September 27, 2011, 6:36 PM

Tuesday Evening Business Brief
Stocks rallied strongly today, building upon yesterday's gains. The Dow was up 147 points or 1.3 percent to 11,191. The S&P added 12 points, while the Nasdaq rose 30 points.
  • German Chancellor Angela Merkel pledges to offer Greece "all necessary assistance" in overcoming its debt crisis. At the same time, she says the Greek government must fully implement all its planned austerity measures.
  • Apple has officially set Oct. 4 for a media event at its headquarters involving the iPhone. There have been numerous reports indicating that the next generation of iPhone will be unveiled at the event, at the very least.
  • A Delaware bankruptcy judge has refused to extend the sale timeline of failed solar-panel manufacturer Solyndra. That's the California-based firm which received a half-billion-dollar federal loan and was once touted by President Barack Obama in support of his administration's economic policies.
  • Analysts caution that it's still slow going for the housing market. But a report out today showed that home prices rose for a fourth straight month in most major U.S. cities in July.

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