Stocks gain on Spanish banking bailout

NEW YORK -- Stocks gained in early trading Tuesday after European leaders agreed on bailout terms for Spain's troubled banking system.

The Dow Jones industrial average gained 43 points, or 0.3%, to 12,779 shortly after the opening bell.

The Standard and Poor's 500 index rose 7 points, or 0.5%, to 1,359. The Nasdaq was up 8 points, or 0.3%, to 2,939.

Major European stock indexes were up about 1% or more.

Spain's costs of borrowing eased, meanwhile. The country's 10-year bond yield slid to about 6.7%, down from about 7% Monday.


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