Reuters – Stocks surged on Friday to close out a sour quarter on a high note as investors cheered an agreement by European leaders to stabilize the region’s banks, a pact that helped remove some of the uncertainty that has plagued markets.

The broad rally was the S&P 500’s best day since December 20 and helped the benchmark index trim its quarterly loss to 3.3 percent.

The decline marked the S&P 500’s first down quarter in the last three after tumultuous Greek elections and concerns about the solvency of Spanish banks roiled financial markets around the world.

“You are going to be see a nice summer…

 

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