ripples of relief spread from europe across the world market. a deal has been reached to tackle the e.u. financial crisis. european leaders have agreed to expand the e.u. bailout fund while private sectors will take a 50% loss on greek bonds. the european agreement translated into a huge day for u.s. stocks. let s go to alison kosik at the new york stock exchange. the closing bell just rang. how did stocks finish? we don t know the final number, but we know it s very positive. it is. the numbers are settling. we re seeing the dow up 340 points. the nasdaq s&p up more than 300%. the bulls busted out of the opening bell and never looked back. this is what investors have been waiting for. these debt problems plaguing greece. and besides plugging greece s debt hole, this plans to safeguard against future shocks. it s a step forwards in instilling stability in the marketplace. being there is such a powerful positive reaction, do investors see this as a done deal? is this crisi
using their shoes. let s begin with you at the new york stock exchange. tell us about the dow and in doing so, talk to me about europe. reporter: okay. the dow has been in rally mode all day. right now it s at 358. the nasdaq s&p had been in rally mode. for the market overall, it is shaping up as one of the best months ever. this all happening because this european debt deal is giving investors a big shot of confidence. this is deal that wall street has been waiting for. these debt problems have been years in the making. so here s what this dleel do. it will do several thing. first it will have banks write off half the value of their greek bonds so greece won t owe them as much money. it will free up cash so greece can pay other bills. it will do two other thing. it will force banks to set aside more cash and it boosts the european bailout fund. these are insurance american purchases are meant to prepare europe. we ve talked so much about greece but i think we need to tal