US stocks sharply higher; European markets also rally

NEW YORK (AP) — Stocks are moving sharply higher on Friday following a rally in Europe and an upturn in crude oil prices.

All 10 industry sectors of the Standard and Poor's 500 index rose, led by energy company shares.

U.S. crude added 68 cents, or 1.8 percent, to $38.52 per barrel on the New York Mercantile Exchange after the International Energy Agency said "there are signs that prices might have bottomed out."

Among his worries are a steeper China slowdown, a U.S. dollar strengthening even more and hurting U.S. exports, no relief from the corporate profits drop over the last year and more surprises in the presidential election.

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The ECB moves included three interest rate cuts, loans to banks, and an expansion to a bond-buying stimulus program.