FOX Business: The Power to Prosper

News that European leaders will take action aimed at quelling the debt crisis that has been plaguing the continent for more than two years unleashed a global rally that sent U.S. markets roaring more than 2% higher. However, Wall Street still capped the second quarter in the red.

Today's Markets

The Dow Jones Industrial Average rallied 278 points, or 2.2%, to 12880, the S&P 500 jumped 33.1 points, or 2.5%, to 1362 and the Nasdaq Composite climbed 85.6 points, or 3%, to 2935.

It wasn't only equities that rallied on Friday. Oil surged $7.27, or 9.4%, in its best daily advance since February 2011. Meanwhile, gasoline leaped 4.3% and gold charged 3.5% higher. 

The statistics are less upbeat for the second quarter. The Dow dropped 2.5%, the S&P 500 shed 3.3% and the Nasdaq slumped 5.1%. Meanwhile, oil plunged 17.5% and gasoline plummeted 20.4% in the worst quarterly drop since the financial crisis in 2008. Gold saw a more modest decline of 3.9%.