Stocks jump

The Dow Jones Industrial Average posted a large gain after European Central Bank President Mario Draghi pledged to defend the euro. The Dow gained 211.88 points to 12,887.93. The S&P 500 added 1.7 percent to 1,360.02, and the Nasdaq rose 39.01 to 2,893.25.

We’re No.1

Jefferies Group led Wall Street securities firms with average compensation per employee of $228,407. Goldman was No. 2 with $225,789 per employee.

Ford recall

Ford is recalling 484,600 older model Ford Escape SUVs, most of them in the US, for a problem in which the throttle can be stuck open, safety regulators said.

Big wheel

McLane Co., the trucker owned by Warren Buffett’s Berkshire Hathaway, agreed to buy Meadowbrook Meat Co. McLane gets about 35 distribution facilities and $6 billion in revenue with the deal.

No room

Weakness in Europe hurt profits at Starwood Hotels & Resorts, owner of the St. Regis and W brands, as second-quarter net fell to $122 million, or 62 cents from $131 million, year ago.