A combination of Greece and oil helped lubricate stocks yesterday to a triple-digit gain as investors’ worries about a financial crisis in Europe subsided in after two days of meetings over how to bail out Athens.
The Dow Jones industrial average surged 169.67, or 1.68 percent, to 10,268.81, while the Standard & Poor’s 500 index added 19.36, or 1.80 percent, to 1,094.87. The Nasdaq gained 30.66, or 1.40 percent, to 2,214.19.
Energy stocks helped drive the surge, aided by a 4 percent increase in the price of crude — the highest percentage gain in nearly six months — that propelled shares in Chevron to climb nearly 3 percent and Exxon Mobil to rise more than 2 percent. Other commodities such as gold and copper also jumped.
The run-up in oil came amid strong earnings from a raft of companies, including Kraft and even teen-retailer Abercrombie & Fitch, whose earnings beat estimates.
“Earnings have been strong and people are starting to believe the recovery we’re seeing in the economy is real,” said trading chief Angel Mata at Stifel Nicolaus Capital Markets. “There’s more of a fear that investors will miss the next move up, as opposed to not being involved and watching the market go down.”
Earlier in the day, stock markets in Europe advanced after European regulators took measures to shore up Greece’s finances.
That move helped the euro recover some of its steep declines in recent days, causing the greenback to slip. Gold prices rose 2.73 percent here to settle at $1,119.780 an ounce, up $23.80.

