NPR 2011-10-28

 The eurozone's debt-fighting pact 1 to bail 2 out Greece and shore up the continent's banks is behind today's big advances in financial markets worldwide. On Wall Street, all the major US stock indexes have risen, ranging from 3% and 3.5% in afternoon trading. At last check, the Dow had climbed 357 points, or 3%, at 12,226; NASDAQ up more than 3.5% at 2,746; S&P 500 up 3.6% at 1,287.

 
Scott Brown, chief economist 3 with Raymond James & Associates, says the agreement in Europe was just a first step but an important one.
 
"If Europe hadn't come to an agreement today or overnight, then there is really fear of a broader financial crisis in Europe, and that would have some effect on the banks in the US. With Europe to moving big at this point and shortly afterwards, that takes some worry off the near-term outlook."
 
European leaders still have to finalize 4 details of their plan. They're looking to China to contribute to Europe's bailout fund. French President Nicolas Sarkozy and Chinese President Hu Jintao spoke 5 earlier today by phone. They pledged to work together to help spur global economic growth.
 
Federal officials have good news for the 48 million Americans on Medicare. The government says costs next year will go up less than expected. NPR's Julie Rovner reports some people will actually see a decrease in their monthly premiums 6.
 
Earlier this year, Medicare officials were predicting about a 10-dollar increase in monthly premiums for Medicare's optional outpatient coverage 7. Instead, it's only going up by 3.50 to just under 100 dollars a month, and some enrollees who've been paying a higher rate will actually see their monthly premiums decline. That's not the only good news. Health and Human Services Secretary Kathleen Sebelius told reporters in a teleconference.
 
"At the same time, this year's Part B deductible has decreased more than 20 dollars."
 
It will be 140 dollars in 2012. As a result, said Sebelius, most seniors will have an additional 40 dollars in disposable income to spend each month. Julie Rovner, NPR News, Washington.
 
A military base that's home to NATO troops and a reconstruction 8 team in southern Afghanistan has come under attack. A Kandahar provincial 9 police chief says several insurgents 10 raided an office and opened fire. Two of the attackers reportedly have been killed.
 
Despite heightened police presence in Oakland, California, anti-Wall Street protesters are vowing 11 to keep up their demonstrations 12. Several hundred people marched out of a plaza 13 that had been declared off-limits for overnight camping and demonstrated in streets around the area. Police have set up barricades 14 to keep the Occupy Wall Street activists 15 from reaching a nearby highway.
 
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Today at the United Nations, the Security Council voted unanimously to terminate authorization 16 of a no-fly zone over Libya and NATO military intervention 17 to protect Libyan civilians 18. As Linda Fasulo reports, the council move came in spite of calls by Libya's National Transitional Council to delay a decision.
 
The seven-month-long UN mandate 19 will end on October 31st, but the council decision will not prevent individual nations from providing security assistance to Libya. Russia, which had long complained that NATO military action was exceeding the Security Council mandate to protect civilians, drafted a resolution. The measure does not lift the UN arms embargo 20, and it expresses concern over the proliferation of weapons in Libya. US ambassador Susan Rice welcomed the council decision and called on Libya's transitional council to move quickly to form an inclusive government. For NPR News, I'm Linda Fasulo in New York.
 
Pricier oil and natural gas is behind Exxon Mobil's 41% jump in its quarterly profit, but production remained flat. The company says some declines resulted from international agreements limiting the amount of oil Exxon can sell as prices increase.
 
Well, as we've said investors 21 have been cheering today's agreement in Europe to fight the continent's debt crisis also fueling positive sentiment on Wall Street expansion in the US economy. The Commerce Department reports the economy grew at an annual rate of 2.5% in the third quarter.