U.S. stocks open up sharply on hopes that European leaders are approaching a plan to contain the debt crisis in the region.Greek Finance Minister said on Tuesday that the country will receive the next round of emergency loans in time to avoid a default.
German Chancellor Angela Merkel also said that his country would do everything possible to help Greece to regain investor confidence. Merkel and Prime Minister of Greece, George Papandreou, is expected to discuss ways of resolving the debt crisis at the end of the day.
Shortly after the opening bell, the Dow Jones Industrial Average rose 208 points, or 1.9 percent, to 11,255. The Standard & Poor's 500 is up 22, or 1.9 percent, to 1,186. The Nasdaq composite index rose 42 or 1.7 percent, at 2,558
