U.S. stocks end higher on hopes for Europe; Dow's up 103 points, off just 0.5% for 2011

SAN FRANCISCO (MarketWatch)
U.S. stocks ended nearly 1% higher Wednesday, supported by hopes that Europe was inching closer to a plan to recapitalize its banks and an agreement on a bigger, more powerful bailout plan.
But a late fade in gains kept the Dow Jones Industrial Average from closing higher for the year.
It's now down 0.5% for the year.
For the session, the Dow ended up 102.55 points, or 0.9%, to 11,518.85, led by Disney Co. shares, up 3.5%.
The S&P 500 gained 11.71 points, or 1%, to 1,207.25.
A 2.7% rise in financial stocks led advances for all sectors except utilities.
The Nasdaq Composite ended up 21.7 points, or 0.8%, to 2,604.73.