U.S. markets headed higher Wednesday with the mood on Wall Street lifted by discussion in Europe of a bank recapitalization plan.
Banks in Europe have been hurt by their exposure to Greek debt. On Tuesday, Greece's debt issue was temporarily put on the back burner, as the international Monetary Fund, the European Commission and the European Central Bank agreed to give Greece the next installment out of its $150 billion bailout package.
In early afternoon trading on Wall Street, the Dow Jones industrial average added 155.15 points, 1.36 percent, to 11,571.45. The Standard & Poor's 500 index added 19.96 points, 1.67 percent, to 1,215.50. The Nasdaq composite index of tech-dominated stock added 38.90 points, 1.51 percent, to 2,621.93.
The benchmark 10-year treasury note fell 1 0/32 to yield 2.262 percent.
The euro rose to $1.3818 from Tuesday's $1.3639. Against the yen, the dollar rose to 77.35 yen from Tuesday's 76.65 yen.
In Tokyo, the Nikkei 225 index fell 0.4 percent, 34.78 points, to 8,738.90.
In London, the FTSE 100 index rose 0.85 percent, 46.10, to 5,441.80.