NEW YORK (AP) — Stocks rallied Monday as investors bet that European finance ministers would take action soon to prop up the region's unstable economies.
European officials pledged over the weekend to take bolder steps to fight Europe's debt problems, which threaten to slow the global economy.
German leaders want banks and private institutions that hold Greek bonds to take a bigger loss on those holdings to slash the country's debt. European officials have also talked about increasing the $595 billion European rescue fund by allowing it to take loans from the European Central Bank.
The Dow Jones industrial average rose 168 points, or 1.6 percent, to 10,939 at noon (1600 …
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