US Stock Futures Jump To The Biggest One Day Gain Of The Year

US stock futures moved up sharply today, marking the biggest one-day gain of the year. The move came in after Europe announced its plan that is designed to ward off further hammering of the euro. While futures on the S&P 500 climbed 51.7 points to 1158.60, those on the Nasdaq 100 advanced 84.75 points to 1933.20. Dow Jones Industrial Average futures soared 408 points.

Among the companies that are expected to trade actively today are Rock of Ages Corp (NASDAQ: ROAC) and Fannie Mae (NYSE: FNM). While ROAC has received takeover bid from Swenson Granite Co for $32.5 million, FNM announced that growth in serious delinquencies on single-family residences was the lowest in February in more than a year.

Following the European Union package, which involves issuing €500 billion ($670 billion) in loans and loan guarantees to Eurozone countries, the euro jumped 2% to re-attain the $1.30 level. The plan also includes €250 billion from the International Monetary Fund (IMF). Meanwhile, the Nikkei 225 added 1.6% in Tokyo and the French CAC 40 jumped 8%. in reaction to a plan that would see up to €750 billion ($970 billion) in loans to protect struggling euro-zone nations.

Read more from Benzinga's Markets.