The market made modest gains this week,bolstered by a stable Euro as debt crisis fears receded.The S&P rose 2.5,while the Dow notched 2.8 and the NASDAQ garnered 1.1.The VIX volatility index closed down 23.7.The market has been moving in tandem with the Euro recently,and this week was no exception.With earnings season some weeks off,the market is event-driven,and the European debt crisis is the main event on traders' minds.The S&P futures signaled a cautious Monday opening with a drop of 1.50,and bond futures rose.
In golf,Graeme McDowell,a British golfer best known for his wins in Europe,led the U.S. Open at Pebble Beach on California's Monterrey Peninsula.Phil Mickelson had an outstanding second round,scoring six birdies for a -1,while McDowell was at -3.Mickelson shared second place with Dustin Johnson,Ryo Ishikawa and Ernie Els.Tiger Woods was buried in the field at +4.Several golfers said the remarkable ocean side scenery was a distraction.
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