Stocks Soar 2% on EU Deal, Dow Above 12,000
Breaking News, Finance Thursday, October 27th, 2011
By: JeeYeon Park, CNBC.com
Stocks jumped sharply Thursday as investors cheered the euro zone’s outline of a plan to solve the region’s sovereign debt crisis and following a handful of encouraging economic and earnings reports.
The Dow Jones Industrial Average surged to open above the psychologically-important 12,000 level, led by BofA [BAC 6.95 0.36 (+5.46%) ] and JPMorgan [JPM 36.01 1.83 (+5.35%) ], after rallying in the previous session.
The S&P 500 and the Nasdaq also opened sharply higher. The CBOE Volatility Index, widely considered the best gauge of fear in the market, plunged almost 15 percent to trade near 25.
All 10 S&P sectors rallied at the open, led by financials and industrials.
To read more, visit: http://www.cnbc.com/id/45060274
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