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[marketmaven]

Burgers and Beers: In SDS XXX $34.10

Stocks jump after China shows confidence in Europe HA HA

Stephen Bernard and Tim Paradis, AP Business Writers, On Thursday May 27, 2010,

Stocks surged Thursday after China reassured investors it doesn't plan to sell any of the European debt it holds. The Dow Jones industrial average rose about 150 points in morning trading, while Treasury prices tumbled as traders pumped money into stocks. China's confidence in Europe overshadowed disappointing reports about the U.S. economy. The Labor Department said initial claims for unemployment benefits fell last week, but not by as much as economists had forecast. A report on gross domestic product indicated that the U.S. economy did not grow as fast in the first quarter as previously thought.