June 14, 2012
Wall Street rises on news central banks primed to act
U.S. stocks jumped on Thursday after news major central banks are preparing coordinated action if the results of Greek elections this weekend lead to turmoil in financial markets.
The central banks from major economies will take steps to stabilize markets and prevent a credit squeeze if necessary, Group of 20 officials.
The news late in the trading day invigorated a market that has been highly volatile this week, whip-sawed by concerns the ballot in Greece on Sunday may set the stage for the country's exit from the euro zone.
Energy was the top-gaining S&P sector .GSPE, rising 1.7 percent, helped by a 2 percent rise in U.S. crude oil prices. Chevron Corp (CVX.N) was a top boost to the Dow, up 1.8 percent to $101.92.
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