Skip to main content



) -- U.S. stocks staged a

major rally

on Friday as Europe's leaders took steps to address the region's debt crisis by moving to lower borrowing costs for Italy and Spain and hammering out a $149 billion stimulus plan.


Dow Jones Industrial Average

soared nearly 278 points, or 2.2%, to close at 12,880. The blue-chip index rose 1.9% for the week and finished June with a gain of nearly 4%. Despite a 2.5% decline in the calendar second quarter, the Dow is up 5.4% so far in 2012.

Breadth within the Dow was overwhelmingly positive with 29 of the 30 components finishing higher. The biggest percentage gainers were

Bank of America

(BAC) - Get Bank of America Corp Report



(CSCO) - Get Cisco Systems, Inc. Report



TheStreet Recommends

(INTC) - Get Intel Corporation Report

, and

United Technologies

(UTX) - Get n.a. Report


Shares of Bank of America gained 5.68% to $8.18. The bank's stock has risen 47.3% year to date.

United Technologies' stock increased 3.99% to $75.50, rebounding from Thursday's performance when the stock was

among the biggest laggards

in the Dow. The stock has risen 3.27% year to date.

Cisco shares rose 4.19% to $17.17. The stock has fallen 5.2% year to date.

JPMorgan Chase

(JPM) - Get JPMorgan Chase & Co. Report

was the only blue chip on the downside, losing 15 cents to close at $37.53. The decline extended a 2%-plus drop on Thursday following a

New York Times

report that the bank's loss on bad trade involving credit derivatives could ultimately reach $9 billion. Previous reports had estimate the bank's maximum exposure at $5 billion.


Written by Alexandra Zendrian in New York


>To contact the writer of this article, click here:

Alexandra Zendrian

>To submit a news tip, send an email to:


>To follow the writer on Twitter, go to

Alexandra Zendrian