Stocks Snap Higher, Dow Crosses Above 13,000 - NewsChannel5.com | Nashville News, Weather & Sports

Stocks Snap Higher, Dow Crosses Above 13,000

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NEW YORK (AP) - The Dow Jones industrial average is up more than 200 points as traders hope for more action from European leaders to protect their currency union.

German chancellor Angela Merkel and French president Francois Hollande released a joint statement saying they were "determined to do everything to protect the eurozone."

Their remarks followed a similar pledge the day before from the head of the European Central Bank. That's raising hopes for bolder steps in Europe to prevent the 17-nation currency bloc from splitting apart.

The Dow is up 222 points at 13,110 in afternoon trading. It's trading above 13,000 for the first time since May 8.

The S&P 500 is up 28 at 1,387 and the Nasdaq composite is up 66 points at 2,958.

(Copyright 2012 by The Associated Press. All Rights Reserved.)

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