The U.S. Federal Reserve and the European Central Bank as well as the central banks of Canada, Britain, Japan and Switzerland agreed to lower the cost of existing dollar swap lines -- reducing the cost of temporary dollar loans to banks -- by half a percentage point.
Financial, energy, materials and industrial stocks, among those seen most economically sensitive, led gains, though all S&P 500 sectors rose. Bank of America Corp (BAC.N) rose 3 percent to $5.22 after hitting a near 3-year low, while JPMorgan Chase & Co (JPM.N) added 6.3 percent to $30.36.
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