US markets surge on eurozone hopes

The Dow Jones climbed 1.9% to reach 11,255, while the S&P 500 rose 1.9% to reach 1,185 in early trading. Both the Dow Jones and S&P 500 had closed 2% higher after notes from the G20 summit in Washington revealed details of a rescue plan for the eurozone, boosting investor sentiment. Today European markets have also rallied as the European Central Bank hinted it will cut interest rates next month. The FTSE 100 had gained nearly 3% to reach 5,241 by mid-afternoon, while the French Cac 40 had climbed 4.1% to reach 2,976 and the Dax jumped 4.36% to reach 5,578. Comments by ECB gover...