NEW YORK (AP) — Stocks jumped in late afternoon trading on reports that France and Germany have agreed to boost a rescue fund as part of an effort to stem the European debt crisis.

The Dow Jones industrial average was up 234 points, or 2 percent, to 11,631 at 3:14 p.m. Eastern. The Dow added more than 100 points within minutes after the report.

The Standard & Poor's 500 index rose 28 points, or 2.4 percent, to 1,229. The Nasdaq composite rose 48 points, or 1.8 percent, to 2,663.

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