U.S. stocks soared at the open on Friday after euro zone leaders agreed to allow rescue funds to be used to stabilize the region's banks.

The Dow Jones industrial average was up 188.68 points, or 1.50 percent, at 12,790.94. The Standard & Poor's 500 Index was up 20.30 points, or 1.53 percent, at 1,349.34. The Nasdaq Composite Index was up 53.61 points, or 1.88 percent, at 2,903.10.