The markets opened sharply higher with the Dow leaping 216 points to 11,260 on continued optimism that European leaders would expand financial assistance to troubled nations. Nasdaq soared 41 points to 2558.
On the upside
Rising gold and silver prices lifted shares of Freeport-McMoRan Copper & Gold (NYSE: FCX).
Cavium (Nasdaq: CAVM) introduced its Celestial CNC1800L multi-format, high definition Set Top Box System-on-a-Chip processor.
Renren (NYSE: RENN) acquired Chinese online video sharing site 56.com.
On the downside
Accuride (NYSE: ACW) sold subsidiary Fabco Automotive and warned of losses for the year.
Biodel (Nasdaq: BIOD) reported that its insulin products BIOD-105 and BIOD-107 failed to meet the company's target product profile.
Coffee Holding (Nasdaq: JVA) announced a registered direct offering to institutional investors.
In the broad market, advancing issues outpaced decliners by a margin of nearly 9 to 1 on the NYSE and on Nasdaq. The Russell 2000 which tracks small cap stocks surged 16 points to 682.
