Thread: Stocks end sharply higher after EU pact

Stocks end sharply higher after EU pact

NEW YORK
Mon May 10, 2010 4:09pm EDT

NEW YORK (Reuters) - Stocks ended sharply higher, racking up their largest daily advance in over a year, on Monday as an agreement on a $1 trillion emergency rescue package from the EU quelled fears that a new credit crisis would derail European economies.

Based on the latest available data, the Dow Jones industrial average .DJI rose 404.71 points, or 3.90 percent, to end unofficially at 10,785.14. The Standard & Poor's 500 Index .SPX shot up 48.85 points, or 4.40 percent, to finish unofficially at 1,159.73. The Nasdaq Composite Index .IXIC surged 109.03 points, or 4.81 percent, to close unofficially at 2,374.67.

These advances marked the largest daily percentage gains for the indexes since late March 2009.

http://www.reuters.com/article/idUSTRE6341EA20100510

Yet another giant bailout. How long can they keep these up?

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