Stocks are closing sharply higher after the leaders of France and Germany promised to strengthen European banks.
The Dow Jones industrial average soared 330 points, led by Bank of America Corp. The euro rose against the dollar.
German Chancellor Angela Merkel and French President Nicolas Sarkozy said they would finalize a "comprehensive response" to the debt crisis by the end of the month.
The Dow shot up 330 points, or 3 percent, to close at 11,433.
The Standard & Poor's 500 index rose 39, or 3.4 percent, to 1,195. The Nasdaq composite index rose 87, or 3.5 percent, to 2,566.
Ten stocks rose for every one that fell on the New York Stock Exchange. Trading volume was light at 3.8 billion.
Bond trading was closed for the Columbus Day holiday.
Viewers with disabilities can get assistance accessing this station's FCC Public Inspection File by contacting the station with the information listed below. Questions or concerns relating to the accessibility of the FCC's online public file system should be directed to the FCC at 888-225-5322, 888-835-5322 (TTY), or email@example.com.