Stocks Rally

Indices closed well into green territory on Thursday. Bank of America, Alcoa and JPMorgan Chase led the Dow’s ascent. Stocks climbed amid news that European leaders have agreed on key details of a plan to stem the eurozone debt crisis. Meanwhile, crude oil added $3.76 to settle at $93.96 a barrel. Elsewhere, the Labor Department said initial jobless claims fell by 2,000 to 402,000 last week. In earnings news, Exxon Mobil posted better-than-expected earnings of $2.13 a share in the third quarter. Procter & Gamble matched street expectations of $1.03 a share. Earnings season continues tomorrow with data due from the likes of Chevron and Merck.

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