Stocks surged as the leaders of France and Germany pledged to put together a comprehensive plan for Europe's debt crisis by the end of the month. It was the fourth sharp increase in the last five days and a dramatic turnaround from last Tuesday, when the S&P 500 index nearly fell enough to meet the definition of a bear market. Since then the widely used index has soared 8.7 percent.
The Dow Jones industrial average rose 330.06 points, or 3 percent, to close at 11,433.18.
The Standard & Poor's 500 index rose 39.43 or 3.4 percent, to 1,194.89.
The Nasdaq composite index rose 86.70, or 3.5 percent, to 2,566.05.
For the year to date:
The Dow is down 144.33 points, or 1.2 percent.
The S&P 500 is down 62.75, or 5 percent.
The Nasdaq is down 86.82, or 3.3 percent.