US stocks jump on German court ruling
NEW YORK: US stocks rallied in early trade on Wednesday after a German court rejected an attempt to block Germany's participation in European bailouts, raising hopes that Europe would tackle its debt crisis.
The Dow Jones Industrial Average rose 142.44 points (1.28 percent) to 11,281.74 in the first two minutes of trade, a solid bounce after three consecutive days of triple-digit losses.
The broader S&P 500 climbed 15.21 points (1.31 percent) to 1,180.45, while the tech-heavy Nasdaq Composite gained 38.16 points (1.54 percent) to stand at 2,511.99.
In a highly anticipated ruling, Germany's Constitutional Court paved the way for German participation in a eurozone-wide bailout mechanism, removing an obstacle to rescues of Greece and other struggling EU countries.
Copyright AFP (Agence France-Presse), 2011
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