BREAKING NEWS: Buying Heats up on Wall Street; Dow Jumps 160

The stock-market rally picked up strength in late-morning action as traders grew more optimistic European policymakers will take decisive measures to stem the debt crisis. Financial stocks fared the best, but every major sector was to the upside, while U.S. debt yields climbed higher. The Dow is 161 points, or 1.3%, higher, while broader market averages posted bigger gains on a percent basis.

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