Stocks surge on European debt deal, GDP growth

(AP) - Stocks are surging after European leaders agreedon a deal to slash Greece's debt load and prevent the financialcrisis there from engulfing larger countries

NEW YORK - (AP) - Stocks are surging after European leaders agreedon a deal to slash Greece's debt load and prevent the financialcrisis there from engulfing larger countries like Italy. The DowJones industrial average had its biggest gain since Aug. 11th.

Stronger U.S. economic growth and corporate earnings also drovemarkets higher. Commodities and Treasury yields soared as investorstook on more risk.

The Dow jumped 340 points, or 2.9 percent, to close at 12,209.It was its highest close since July 28.

The S&P 500 rose 43 points, or 3.4 percent, to close at 1,285.The Nasdaq gained 88, or 3.3 percent, to 2,739.

Nine stocks rose for every one that fell on the New York StockExchange. Volume was heavy at 6.5 billion shares.

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