US STOCKS-Wall St surges on euro-zone rescue plan

* Global leaders agree to $1 trillion emergency package

* Boeing jumps after Goldman raises to ‘buy’

* Dow up 3.6 pct, S&P up 4 pct, Nasdaq up 4.3 pct

* For up-to-the-minute market news see [STXNEWS/US]
(Updates to midmorning)

By Leah Schnurr

NEW YORK, May 10 (BestGrowthStock) – The S&P 500 jumped more than 4
percent on Monday, racking up its best opening on record, as an
agreement on a $1 trillion emergency rescue package quelled
fears that Greece’s debt crisis would spread.

The package of standby funds and loan guarantees would be
available to euro zone governments shut out of credit markets.

The total bailout, reached by European leaders on Monday,
is on the scale of the U.S. government’s $700 billion Troubled
Asset Relief Program in 2008 to stave off the credit crisis.
For details, see [ID:nSGE6490HH]

“It’s certainly been well received,” said Richard Sparks,
senior equities analyst at Schaeffer’s Investment Research in
Cincinnati, Ohio.

Analysts cautioned, however, that longer-term concerns
remained about whether euro-zone nations saddled with high debt
loads would be able to manage their balance sheets.

“It will remain to be seen if some of these countries can
get their affairs in order with the help of this bailout,” said

Even so, investors welcomed the news, following sustained
fears that Greece’s debt crisis could infect other weak
countries and last week’s intraday U.S. stock market plunge.
Financial shares were among the biggest gainers, with the S&P
financial index (.GSPF: ) up 4.7 percent.

The Dow Jones industrial average (.DJI: ) jumped 376.97
points, or 3.63 percent, to 10,757.40. The Standard & Poor’s
500 Index (.SPX: ) gained 44.23 points, or 3.98 percent, to
1,155.11. The Nasdaq Composite Index (.IXIC: ) shot up 97.27
points, or 4.29 percent, at 2,362.91.

Howard Silverblatt, an analyst at Standard & Poor’s, said
that based on their records dating back to the late 1960s, the
the S&P 500’s percentage and point gains at the opening were
both records.

In stock news, Boeing Co (BA.N: ) advanced 6.7 percent to
$71.19, boosting the industrial sector after Goldman Sachs
raised the stock to “buy” from “neutral”. A Boeing official
said the planemaker is on track to deliver its first 787
Dreamliner. [ID:nSGE6490S9]

Stock Market Research Tools

(Additional reporting by Caroline Valetkevitch; editing by
Jeffrey Benkoe)

US STOCKS-Wall St surges on euro-zone rescue plan