Wall Street is rocking following a market surge. The Dow gained 490 points to close at 12,046. The Nasdaq increased 105 points to close at 2,620. The S&P 500 rose 52 points to close at 1,247. Investors seem to like news that could ease the European debt crisis. U.S. Federal Reserve and government banks are making moves to support the global financial system. China is also freeing up some cash.