After opening solidly higher, the major indexes are falling back to earth late this morning following comments by German Chancellor Angela Merkel throwing doubt on possibilities for a larger permanent European bailout fund. Merkel reportedly opposes the idea of raising the ceiling on the European Stability Mechanism.
The Dow had risen more than 100 points in early trading, but was more recently up about 39 points.
The Euro slid, dropping to $1.306 from about $1.32.
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