US stocks open up 1% as Libya declares ceasefire

March 18, 2011 15:56

NEW YORK - US stocks opened up more than 1 percent on Friday as Libya said it would cease all military action, sending oil prices sharply lower.

The Dow Jones industrial average jumped 130.62 points, or 1.11 percent, at 11,905.21. The Standard & Poor's 500 Index was up 13.88 points, or 1.09 percent, at 1,287.60. The Nasdaq Composite Index <.IXIC> gained 26.46 points, or 1.00 percent, at 2,662.51.

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