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Stocks rally: Dow nears 13,000 mark

Posted By -NO AUTHOR- On 02/16/2012 @ 7:18 pm In Money | No Comments

(MSNBC) — Stocks rallied Thursday, with the Dow Jones industrial average nearing the 13,000 mark, on strong U.S. economic data and indications that euro-zone leaders were on track to approve a crucial bailout for Greece.

The European common currency erased its losses against the dollar after a euro-zone official said leaders were finishing the details of a second bailout for Greece worth at least 130 billion euros.

The development eased fears of a chaotic Greek default, driving prices of safe-haven 30-year U.S. Treasuries bonds down more than 1 point.

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