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Saturday June 30, 2012
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BUSINESS & FINANCE

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    U.S. stocks surged to end a weak second quarter on a strong note, scoring their best June in more than a decade as investors cheered European progress to stem a series of financial crises. The Dow Jones industrials on Friday rose 277.83 points, or 2.2%, to 12880.09, but ended the quarter down 2.5%.

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    European markets not only rallied Friday on the EU news, but they also held their gains. Spanish and Italian borrowing costs fell. European stocks were broadly higher. The euro surged against the dollar.

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    Oil soared 9.4% Friday, its biggest gain in more than three years. Gold futures jumped 3.5% to $1,603.50.

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    Peter Madoff admitted committing crimes that allowed his brother, Bernard, to perpetuate the Ponzi scheme but said he knew nothing of the fraud itself.

WORLD-WIDE

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    A burst of lobbying greeted the health law's affirmation. Hospital owners, medical-device makers, drug firms, insurers and other interests scrambled to stake out their positions as the White House signaled openness to improvements.

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    States struggled with the question of whether to opt out of Medicaid expansion as Republicans have urged.

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    Student loans' 3.4% rate will be maintained after Congress passed funding that is part of a $120 billion transportation package.

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    The Turkish warplane that Syria shot down in late June was likely in Syrian airspace, U.S. intelligence indicates, a finding at odds with Turkey's assessment.

U.S. NEWS

CAMPAIGN JOURNAL

THE HEALTH-LAW DECISION

WORLD NEWS

EURO-ZONE TURMOIL

SPORTS

FOOTNOTES

This index is compiled from the late edition of The Wall Street Journal distributed to East Coast readers. Images of section fronts are available after 5 a.m. ET on the day of publication.

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  • China currently faces a "strategic opportunity" to remove restrictions on investment flows, a central bank official said, while stressing that opening up the capital account will be a gradual process.

  • Nomura Concedes Lax Internal Control

    Nomura acknowledged that lax internal control led to a series of leaks of insider information in high-profile share offerings by Japanese blue-chip companies dating back to 2010, following an internal probe.

Question of the Day

Do you agree with the Supreme Court’s decision to uphold President Obama's health-care law?

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