European stocks rally on expectations of Ireland bailout
European stocks rallied Thursday on expectations that Ireland will accept some form of bailout from the European Union and International Monetary Fund, while General Motors' successful initial public offering in the US market lifted the auto sector.
Irish and European stocks continued their rally today but showed signs of slowing down as the European Central Bank warned about intensifying risks to recovery, while Wall Street awaited details of President Obama and Fed chairman Ben Bernanke's plans for the US economy.