ECB prompts stock rebound

U.S. stocks jumped Thursday on a pledge by the European Central Bank president to support the euro. Bank President Mario Draghi said the ECB would do "whatever it takes," to support the currency shared by 17 nations that are in the midst of a collective financial crisis. Stocks made solid gains in Europe. In early afternoon trading on Wall Street, the Dow Jones industrial average added 193.29 points or 1.52 percent to 12,869.34. The Standard & Poor's 500 index added 18.72 points or 1.4 percent to 1,356.61. Tech-heavy Nasdaq composite index gained 29.45 points or 1.03 percent to 2,883.69. The benchmark 10-year treasury note fell 9/32 to yield 1.434 percent. The euro rose to $1.2279 from Wednesday's $1.2157. Against the yen, the dollar rose to 78.26 yen from 78.15 yen. In Tokyo, the Nikkei 225 index rose 0.92 percent, 77.20, to 8,443.10. In London, the FTSE 100 index gained 1.36 percent, 74.84, to 5,573.16 and the French CAC added 125.38 points or 4.07 percent to 3.207.12. The German DAX added 176.44 points or 2.75 percent to close at 6,582.96 while the European Dow gained 4.3 percent and the Stoxx Europe 600 added 2.47 percent.