The European Debt Crisis Is Dawning &Nbsp; US Stocks Closed On Thursday.

The EU provides us $1 trillion and 300 billion to solve the problem.

As of 4:00 p.m. Eastern time, the Dow Jones industrial average rose 37.16 points, or 0.49%, to 11541.78 points, while the Nasdaq composite index fell 5.42 points, down 0.21% to 2598.62 points, and standard & Poor's 500

Two people familiar with the situation said that EU governments might integrate the temporary aid fund "EFSF" and the permanent aid fund "ESM", thus releasing up to 940 billion euros ($1 trillion and 300 billion) of funds to solve the sovereign debt crisis in the euro area.

The pan European Dow Jones index closed down 1.54% at 233.07 on Thursday.

The New York Mercantile Exchange's main gold contract in December fell $34.10, or 2.1%, at $1612.90 an ounce.

This is the fourth consecutive trading day that the contract has fallen, and today's closing price is the lowest level since the end of September.

The London Metal Exchange's three month benchmark copper contract closed at $6735 a tonne on Thursday, a 6.6% decline from Wednesday's closing price of $7210 a tonne.

The contract also fell to $6710 per ton, the lowest price in two weeks.

Last week, the number of Americans seeking unemployment benefits fell by 6000 to 403 thousand, according to a data released by the labor department on Thursday.

The labor department data also showed that the number of initial jobless claims two weeks ago increased from 404 thousand to 409 thousand after adjustment.

The Greek parliament approved a new round of austerity measures. Under the leadership of prime minister Papandreou, the ruling party of the Greek Socialist Party promoted the new austerity bill in the same day's parliamentary vote by 154 votes in favour and 144 votes against it.

In the day's vote, one of the ruling members of the Party expressed opposition to a clause in the bill.

Michel Barnier, the European Union's internal market commissioner, said on Thursday that senior officials of the European Commission are considering banning rating agencies from assessing sovereign credit ratings of the euro zone countries that have been rescued.

German finance minister Wolfgang Schauble (Wolfgang Schaeuble) said on Thursday that Germany and France had reached a full consensus on the European financial stability fund (EFSF).

Wolfgang Schauble also stressed that the implementation of the leverage by the European Central Bank needs further discussion.

This Sunday's summit of EU leaders will be held as scheduled, but there will be no agreement on the leverage of the euro zone aid fund, namely the European financial stability fund (EFSF).

German economic minister Philip Les LOhr said in Berlin on 20 th that although the world economy is cooling down and the financial market continues to be unstable, the government expects that the German economy will still achieve 2.9% growth this year, but the growth rate will be reduced to 1% next year.

The US Real Estate Broker Association (NAR) released a report that in September, the US housing sales volume fell by 3% in the month, and the seasonal factor adjusted to 4 million 910 thousand, which is basically the same as the average 4 million 900 thousand expected by market economists.

In August, the US housing sales volume was revised from the initial 5 million 30 thousand buildings to 5 million 60 thousand.

The US Bureau of economic services reported that the US leading economic index rose 0.2% in September this year, which was in line with the average expectations of market economists. In August, the leading indicator of the US economy grew by 0.3%.

The Federal Reserve Bank of Philadelphia said on Thursday that there was a sign of recovery in manufacturing activity in Philadelphia in October this year. The Federal Reserve Bank released the October manufacturing index in Philadelphia rose to 8.7 points, and in September the index was -17.5.

This is the first increase in the index in three months. The index is greater than zero, which means expansion of manufacturing activities.

Market economists had previously expected the index to grow to -10.0 only.