Stocks rose broadly Tuesday on hopes that Europe was moving closer to resolving its debt crisis. The Dow Jones industrial average closed up 146 as industrial and materials companies led the market higher.
Germany's chancellor Angela Merkel said her country would do whatever it could to help Greece regain investors' confidence. Greece's finance minister also said that country would receive the next round of bailout loans in time to avoid a default. Greece was at risk of running out of money by mid-October if it did not receive the funds.
The Dow rose 146.83 points, or 1.3 percent, to close at 11,190.69.
The Standard & Poor's 500 index rose 12.43, or 1.1 percent, to 1,175.38.
The Nasdaq composite rose 30.14, or 1.2 percent, to 2,546.83.
For the week to date:
The Dow is up 419.21 points, or 3.9 percent.
The S&P 500 is up 38.95, or 3.4 percent.
The Nasdaq composite index is up 63.60, or 2.6 percent.
For the year to date:
The Dow is down 386.82, or 3.3 percent.
The S&P 500 is down 82.26, or 6.5 percent.
The Nasdaq is down 106.04, or 4 percent.