NEW YORK, June 10 (UPI) -- U.S. markets surged at the opening bell Thursday, on revised forecasts of economic growth in Europe for 2010.
European Central Bank President Jean-Claude Trichet, explaining the decision to keep bank-to-bank lending rates unchanged at 1 percent, said the bank's policy makers expected eurozone output to grow as much as 1.3 percent this year, after first quarter growth of 0.2 percent.
The Organization of Petroleum Exporting Countries in a monthly report released Wednesday said global economic growth would reach 3.8 percent this year, higher than previously expected.
In midmorning trading on Wall Street, the Dow Jones industrial average added 225.29 points, 2.28 percent, to 10,124.54. The Standard & Poor's 500 index added 25.16 or 2.38 percent to 1,080.85. The Nasdaq composite index rose 42.05 or 1.95 percent to 2,200.90.
The benchmark 10-year Treasury fell 21/32 to yield 3.25 percent.
The euro rose to $1.2118 from Wednesday's $1.1987. Against the yen, the dollar rose to 91.265 from Wednesday's 91.17 yen.
In Japan, the Nikkei 225 index added 1.1 percent, 103.52, to 9,542.65.
