US stocks surge on European debt deal

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NEW YORK (AP) — Stocks are surging in early trading after European leaders agreed on a deal to slash Greece’s debt.

The U.S. economy grew between July and September at its fastest rate in a year, and Dow Chemical Co. became the latest big company to report stronger earnings.

Global markets soared Thursday after the European agreement, which is aimed at preventing a two-year debt crisis there from dragging the world into another recession.

Ten minutes after the opening, the Dow Jones industrial average jumped 256, or 2.2 percent, to 12,125. The S&P 500 rose 32, or 2.6 percent, to 1,274. The Nasdaq rose 67, or 2.5 percent, to 2,718.

Treasury yields are rising as investors feel less need for safer investments.