Stocks are closing sharply higher after some encouraging results from McDonald's, eBay and other companies. The Dow Jones industrial average climbed 320 points, or 1.9%, to 17,489 Thursday. The Standard & Poor's 500 index increased 33 points, or 1.7%, to 2,052. The Nasdaq composite rose 79 points, or 1.7%, to 4,920.
European stocks also rose Thursday after the head of the European Central Bank said a stimulus program could be expanded in December. The euro fell against the dollar. In the US, eBay jumped 14% after reporting results that were well ahead of what analysts were expecting. McDonald's gained 8% after reporting sales gains. American Express sank 5% after its results fell short of forecasts.