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Stocks Surge as Traders Cheer Europe Deal

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Wall Street kicked off the session with big gains, knocking the Dow above the 12,000 mark, after European leaders revealed steps aimed at quelling the two-year-old debt crisis.

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As of 9:32 a.m. ET, the Dow Jones Industrial Average soared 231 points, or 1.9%, to 12,098, the S&P 500 jumped 24.3 points, or 2.1%, to 1,268 and the Nasdaq Composite leaped 70.6 points, or 2.7%, to 2,720.

The blue-chip average hasn't crossed above the 12,000-mark since early-August, and is within 800 points of reaching its highest close in 2011. Indeed, the Dow is nearly 1,400 points off of its 2011 lows.

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