Euro zone progress extends Wall Street advance
US stocks rose for a fourth day on Thursday as coordinated central bank action calmed fears that Europe's financial sector was headed for a credit freeze due to the region's sovereign debt crisis.
Financial shares rallied after the European Central Bank announced plans, in coordination with other major central banks, to make it easier for euro zone institutions to borrow dollars.
The Dow Jones industrial average was up 186.45 points, or 1.66 percent, at 11,433.18. The Standard & Poor's 500 Index was up 20.43 points, or 1.72 percent, at 1,209.11. The Nasdaq Composite Index was up 34.52 points, or 1.34 percent, at 2,607.07.
European stocks rose for a third day, after German and French leaders said they were determined to keep Greece in the euro zone, and the US Federal Reserve led a concerted action to address banks' problems in securing dollar funding.
The FTSEurofirst 300 index of top European shares rose 2.1 percent to 932.16 points, the highest close in a week. Volume was high, 18 percent above the 90-day average for the index.
The Nikkei average climbed nearly 2%, moving away from a 2-1/2 year closing low hit the previous day as investors bought back shares after France and Germany said Greece's place remains in the euro zone.
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