Libya cease-fire, yen plan pulls stocks higher
NEW YORK (AP) -- A cease-fire in Libya and an international plan to bring the yen down from historic highs are pushing stocks broadly higher.
Japan's currency has soared since an earthquake and devastating tsunami struck the country a week ago, killing thousands and damaging several nuclear reactors. The high yen could hurt Japanese exports.
Libya declared a cease-fire hours after the United Nations authorized military strikes against the country.
Stocks are rising across the board today. Twenty-seven out of the 30 stocks that make up the Dow Jones industrial average are gaining in midday trading.
The Dow is up 90 points, or 0.8 percent, to 11,866. The S&P 500 is up 8, or 0.6 percent, to 1,281. The Nasdaq composite is up 6, or 0.2 percent, to 2,642.