By Greg Peel

The Dow closed up 44 points or 0.4% while the S&P gained 0.9% to 1172 and the Nasdaq starred with a 1.5% gain.

And now to everyone's favourite show, In Europe Tonight:

A spokesman for French president Nicholas Sarkozy stated last night that nothing would happen. The same can't be said for tonight however, when Sarkozy and German chancellor Angela Merkel will make a joint statement with respect to the Greek situation. Whatever it is Sarkozy and Merkel are going to say, no one was letting on last night.

The statement will come ahead of Friday night's scheduled meeting of EU finance ministers in Warsaw, at which US Treasury secretary Timothy Geithner will be a guest attendee.