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Contrary to the prevailing view, the U.S. economy will gain growth momentum in the year ahead, while GDP will grow stronger in Europe and Japan, research firm IHS Global Insight has said in its forecast for 2011.

Rabbit Hole, the latest film of Australian actress Nicole Kidman, will premiere next year on her home country Australia.

Stocks rose moderately, boosted by some M&A activity and an easing of hostilities in Korea, with the Dow Jones index reaching a 28-month high and the Nasdaq at a three-year high, albeit in light pre-holiday trading.

The euro crisis is far from over and the peripheral members of the euro zone should temporarily exit the currency bloc and get their financial houses in order, said a Pimco bond fund manager. Otherwise, current policies are ineffective in the absence of fiscal unity and will likely lead to a break-up of the euro.

The Gold Price touched a 4-session high at $1390 per ounce in early London trade on Tuesday, rising for Euro and UK investors as world stock markets hit new two-year highs.

China on Tuesday offered support to Europe's efforts to deal with the peripheral debt crisis and said Beijing will not cut down its holdings of European sovereign bonds.

Moody's Investor Services put Portugal's long-term and short-term rating on review for a possible downgrade, citing uncertainties in the country's economic vitality.

Portugal was put on notice that its credit rating could be cut and fellow euro zone debtor Spain had to pay more to issue new debt on Tuesday, suggesting the currency bloc's crisis will rage unabated in 2011.

Stocks looked set to grind to fresh highs on Tuesday as corporate results and mergers supported a steady upward trend in the equity market.

Stock index futures rose on Tuesday as a higher earnings outlook from software maker Adobe Systems and more mergers looked to add fuel to the December rally.

Moody's Investor Service warned on Tuesday it may downgrade debt-ridden Portugal's A1 rating by one or two notches after a review that will take up to three months, citing weak growth prospects and high borrowing costs.

Stock index futures pointed to a higher open on Wall Street on Tuesday, with futures for the S&P 500 up 0.36 percent, Dow Jones futures up 0.32 percent and Nasdaq 100 futures up 0.27 percent at 0928 GMT (4:28 a.m. EDT).

The euro pared gains on Tuesday after Moody's put Portugal on review for a possible downgrade, while world stocks rose, driven by bargain-hunting investors betting on stronger global growth next year.

European Central Bank head Jean-Claude Trichet said on Monday euro zone countries must do more individually and collectively to combat the bloc's debt crisis, and Ireland must stick rigorously to its bailout plan.

Wall Street banks have been gripped by a certain euphoria in recent weeks, with their economists touting a modest improvement in U.S. data as an omen of more robust growth to come in 2011.

Ratings agency Moody's gave a resounding thumbs-down on Friday to Europe's efforts to resolve a rolling debt crisis, slashing Ireland's credit rating by five notches despite an EU/IMF bailout.

Following are comments by European leaders and senior officials at a summit in Brussels on Thursday and Friday focusing on ways to tackle the euro zone debt crisis.

European Union leaders have agreed to create a permanent financial safety net from 2013 and the European Central Bank moved to increase its firepower to fight the debt crisis that has rocked the euro zone.

European Union leaders agreed on Thursday to create a permanent financial safety net from 2013 and the European Central Bank moved to increase its firepower to fight the debt crisis that has rocked the euro zone.

The European Central Bank moved to increase its financial firepower to fight the euro zone debt crisis on Thursday, and European Union leaders agreed to change the EU treaty to create a permanent crisis resolution system.

Euro area annual inflation was 1.9 percent in November, unchanged compared with the last month and within the European Central Bank's target, the European Union's statistics office Eurostat said on Thursday. On a monthly basis, inflation rose 0.1 percent in November.