KBTX - Money - Headlines

Stocks Soar on European Pledge to Help Banks

By: Associated Press
By: Associated Press

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.


Join the Conversation!

To comment, the following rules must be followed:

  • No Obscenity, Profanity, Vulgarity, Racism or Violent Descriptions
  • No Negative Community Comparisons
  • No Fighting, Name-calling, Trolling or Personal Attacks
  • Multiple Accounts are Not Allowed
  • Stay on Story Topic

Comments may be monitored for inappropriate content, but the station is under no legal obligation to do so.
If you believe a comment violates the above rules, please use the Flagging Tool to alert a Moderator.
Flagging does not guarantee removal.

Multiple violations may result in account suspension.
Decisions to suspend or unsuspend accounts are made by Station Moderators.
Questions may be sent to comments@kbtx.com. Please provide detailed information.

powered by Disqus
KBTX-TV Channel 3 4141 E. 29th Street Bryan, TX 77802 Phone: (979) 846-7777 Fax: (979) 846-1490 News Fax: (979) 846-1888
Gray Television, Inc. - Copyright © 2002-2014 - Designed by Gray Digital Media - Powered by Clickability 131474443