Stocks rise sharply on signs of economic growth

NEW YORK (AP) — Global stocks surged on signs that U.S. unemployment may fall and reports that Europe's central bank is closer to containing the region's financial crisis. Bond prices and the dollar fell as investors moved money into riskier assets.

European stocks got a boost today after European Central Bank President Jean-Claude Trichet suggested that the bank could buy bonds issued by countries within the European Union. That, along with a better-than-expected bond auction by Portugal, pushed the euro higher. The Euro Stoxx 50, which tracks blue chip companies in Europe, rose 2 percent.

U.S. stock indexes leaped higher, erasing nearly two weeks of losses. The Dow Jones industrial average rose more than 250 points in afternoon trading.

All 30 stocks in the Dow index rose. Home Depot Inc. rose 4.4 percent, Microsoft Corp. rose 3.7 percent and Caterpillar Inc. rose 3.5 percent.