FILE - In this Thursday, June 28, 2012, file photo, specialist Edward Zelles works on the floor of the New York Stock Exchange. Wall Street appeared headed for gains Friday June 29, 2012. (AP Photo/Richard Drew, File)
Stocks surge at closing
| THE ASSOCIATED PRESS
First Published Jun 29 2012 07:31 am • Last Updated Jul 09 2012 09:51 am
New York • Stocks closed with their second-biggest gain this year after European leaders announced a plan to rescue banks, relieve debt-burdened governments and restore investor confidence.
Stocks and commodities rallied across the globe Friday after leaders in Brussels announced the crisis-fighting measures.
The Dow Jones industrial average closed up 278 points at 12,880 on the last trading day of the second quarter. The S&P 500 closed up 33 at 1,362. The Nasdaq finished up 86 at 2,935.
Stocks had a great month, but are down for the quarter because of steep losses in May. Economic data was weakening, and Spain’s banks were teetering on the brink.
About seven stocks rose for every one that fell on the New York Stock Exchange. Volume was heavy at 4.39 billion shares.
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