News that European leaders are drawing up a new rescue plan for Greece is driving stock indexes higher. European officials say they'll give Greece a new package of rescue loans. They also plan to lower interest rates and lengthen payback terms for Greece, Ireland and Portugal.
Worries about Europe's debt crisis have been hanging over markets for weeks.
The Dow Jones industrial average rose 152.50 points, or 1.2 percent, to close at 12,724.41 Thursday.
The S&P 500 index rose 17.96 points, or 1.4 percent, to 1,343.80.
The Nasdaq rose 20.20 points, or 0.7 percent, to 2,834.43.
For the week:
The Dow is up 244.68 or 2 percent.
The S&P is up 27.66 or 2.1 percent.
The Nasdaq is up 44.63, or 1.6 percent.
For the year to date:
The Dow is up 1,146.90 or 9.9 percent.
The S&P is up 86.16 or 6.9 percent.
The Nasdaq is up 181.56, or 6.8 percent.