Shares rebounded globally

The Dow Jones Industrial Average rebounded 275.56 points, or 2.47 per cent, to close at 11,414.86

S&P 500 surged 33.38 points, or 2.86 per cent, to end at 1,198.62. The Nasdaq composite gained 75.11 points, or 3.04 per cent, to close at 2,548.94.

percent over the past week despite near record-low borrowing costs.

European shares closed up following German highest court's ruling which rejected a series of lawsuits to block Germany's participation in bailout packages for Greece and other euro zone countries.

Greek bank stocks rose nearly 20 per cent on hopes by that its government will implement reforms demanded by its international lenders.

Italy's senate approved a multi-billion-euro austerity plan to help halt Italy from becoming the next victim of the euro zone's debt crisis.

Meanwhile, President Obama, plans to announce a USD300 billion job-stimulus program  during his televised speech to Congress this Thursday

Asian stocks opened up Thursday on Wall Street's gains, following German's court ruling which supported German government's efforts to bail out the crisis-stricken euro zone.

Japan's Nikkei stock average rose for the second straight session gaining 1.2 per cent on Wall Street's gains and  hopes of improvement in Europe's debt crisis.

Korea Composite Stock Price Index gained 1 per cent, while Ausralian stocks opened higher today.

Meanwhile, gold closed down 1.83 per cent at USD 1,835.74 an ounce, while crude oil was at USD 89.96 a barrel.