U.S. stock indexes surge on EU accord

Date: Mon, May 10, 2010 at 12:00 PM

U.S STOCK INDEXES SURGE ON EU ACCORD
U.S. stocks leapt at Monday's start, with the Dow average up more than 400 points in early trading, after European Union leaders agreed on a near $1 trillion rescue package and the Federal Reserve agreed to offer loans overseas as needed.  

JURY OUT ON LONG-TERM IMPACT OF E.U. RESCUE PLAN
 A $970 billion plan to address the euro-zone's sovereign debt crisis brought relief to troubled credit markets and sparked a rebound by the euro and banking shares Monday, but economists said it was too early to tell whether the measures would be enough.  

 CENTRAL BANKS REOPEN U.S.-DOLLAR SWAP LINES
 The Bank of Japan decides at an unscheduled meeting to reopen temporary U.S. dollar-liquidity swap facilities as part of coordinated global central bank efforts to maintain normal money-market function.  

IMF OKS GREECE LOAN AS EUROPE TRIES TO STEM CRISIS
 The executive board of the International Monetary Fund approves a three-year, $30 billion loan for Greece to help the debt-wracked country meet its obligations.  

WORLD GOVERNMENTS VOICE SUPPORT FOR EU MOVES
 Governments around the world voice support for the European Union's decision to create an unprecedented new loan program to stop the Greek debt crisis from hitting to other countries.