Stocks Surge on Expectations of Central Bank Help

By: Matthew Craft, AP Business Writer

Posted: Thu 4:40 PM, Jun 14, 2012

New York, NY (AP) - June 14, 2012 --

A late surge is sending the stock market sharply higher after a report said major central banks would be ready to pump money into the financial system if needed.

The Reuters report said major central banks were preparing for coordinated action if the results of Greek elections on Sunday strain global financial markets.

The Dow Jones industrial average jumped 155 points to close at 12,652 on Thursday. That's a gain of 1.2 percent. The Dow jumped about 100 points after the report came out then pulled back.

The Standard & Poor's 500 increased 14 points to 1,329. The Nasdaq composite gained 18 to 2,836.

More than two stocks rose for every one that fell on the New York Stock Exchange. Trading volume was lighter than average at 3.6 billion shares.

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