Before the bell: S&P futures +2.4%, Nasdaq futures +2.2%
U.S. stock futures advanced as European leaders agreed to expand a bailout fund to $1.4 trillion in a bid to tame the region’s debt crisis.
Global stocks rallied as European leaders cajoled bondholders into accepting 50 percent writedowns on Greek debt and boosted their rescue fund’s capacity to 1 trillion euros in a crisis-fighting package intended to shield the euro area. Measures include recapitalization of European banks, a potentially bigger role for the International Monetary Fund, a commitment from Italy to do more to reduce its debt and a signal from leaders that the European Central Bank will maintain bond purchases in the secondary market.
World Markets: Nikkei +2.04%, Hang Seng +3.26%, Shanghai Composite +0.34%, FTSE +2.82%, CAC +5.35%, DAX +4.81%.