Financial markets around the world stormed higher Friday after European leaders came up with a breakthrough plan to rescue banks, relieve debt-burdened governments and restore investor confidence. The Dow Jones industrial average had its second-biggest gain this year, and stocks advanced even further in Europe.

The Dow Jones industrial average closed up 277.83 points, or 2.2 percent, at 12,880.09.

The Standard & Poor's 500 index rose 33.12, or 2.5 percent, to 1,362.16.

The Nasdaq composite average rose 85.56, or 3 percent, to 2,935.05.

For the week:

The Dow is up 239.31 points, or 1.9 percent.

The S&P 500 is up 27.14 points, or 2 percent.

The Nasdaq is up 42.63 points, or 1.5 percent.

For the month:

The Dow is up 486.64 points, or 3.9 percent.

The S&P 500 is up 51.83 points, or 4 percent.

The Nasdaq is up 107.71 points, or 3.8 percent.

For the quarter:

The Dow is down 331.95 points, or 2.5 percent.

The S&P 500 is down 46.31 points, or 3.3 percent.

The Nasdaq is down 156.52 points, or 5.1 percent.

For the year:

The Dow is up 662.53 points, or 5.4 percent.

The S&P 500 is up 104.56 points, or 8.3 percent.

The Nasdaq is up 329.90 points, or 12.7 percent.