This week, debt felled another European leader as Portugal's prime minister resigned. But the euro currency did not tumble. That's a sign that Europe is finally getting on top of its debt crisis.
Dow gains 84 points, up nearly 5 percent over the last six trading days.
The collapse of Portugal's government raised the likelihood of a bailout and set back efforts to beef up a financial rescue package for troubled European economies.
Japan's stock market index surges 4.4 percent as outlook for Japanese nuclear plant improves. Other stock markets in Asia, Europe little changed
China has signed a number of trade deals throughout Europe that could boost struggling economies, but some Europeans have misgivings about the possibility of a financial lifeline from China.
Stock futures point to a slightly higher open on Wall Street as traders watch to see if OPEC will boost oil production.
Oil prices fell from their highs on prospects of higher OPEC production. After flirting with $120 a barrel in London, oil prices declined to nearly $114.
Interest rates could be pushed up next month, the head of the European Central Bank says. But he doesn't foresee a big hike in interest rates.